CNBC headline: Five reasons bitcoin had its worst quarter in more than a decade
PUBLISHED FRI, JUL 1 20224:33 AM EDTUPDATED SAT, JUL 2 20223:25 AM EDT
https://www.cnbc.com/2022/07/01/bitcoin-btc-posts-worst-quar…
Bitcoin lost about 58% of value in the second quarter of 2022, posting its worst quarterly performance since 2011.
Macroeconomic issues, such as rising interest rates and rampant inflation, led to a sell-off in stocks and filtered through to the cryptocurrency market.
But the industry has also seen a wave of liquidity concerns, with hedge fund Three Arrows Capital going into liquidation and lending firm Celsius pausing withdrawals for customers.
The quarter also saw the collapse of algorithmic stablecoin terraUSD which sent shockwaves through the industry.
p.s. Currently, Bitcoin is below $20,000 again. My weekly chart updates with a 15-minute lag for people who do not subscribe to stockcharts.com: