Bitcoin Price Rebounds After Fall Below $26,000
Bitcoin plunged, then bounced back, and the world’s largest stablecoin, tether, briefly edged down from its $1 peg, adding to fears of more turbulence in the cryptocurrency market.
Cryptocurrencies have been hit by two forces this week. On one side, concerns that inflation will necessitate aggressive central-bank tightening have sapped the desire to hold assets perceived as higher risk. On the other, the decoupling of TerraUSD, a stablecoin whose value was tied to $1, has sent ripples through digital assets.
Bitcoin fell as low as $25,402.04 Thursday, down 10% from its...