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Benzinga
Benzinga
Business
Melanie Schaffer

Is This A Crypto Winter? Why Bitcoin Must Hold $22,600

Bitcoin Crypto Celsius

Bitcoin (CRYPTO: BTC) was plunging more than 14% on Monday with strong momentum after a bearish weekend, which saw the apex crypto lose 8.62% over the 24-hour trading periods on Saturday and Sunday.

The price action in the crypto sector spooked investors in the stock market because weekend price action in Bitcoin and Ethereum (CRYPTO: ETH) often suggests the direction the general markets will take on Monday. That held true and on Monday morning the S&P 500 gapped down and continued to fall intraday, declining about 3.4% by press time.

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