According to Coinbase data, Bitcoin dropped as low as $19052 on Saturday. Ethereum fell below $1,000 and reached a low of $988 at press time. Bitcoin fell below its 2017-2018 bull market high.
According to TradingView, bitcoin traded at $19,217 as of press time on Coinbase. Bitcoin dropped to $19,052 after which it recovered somewhat.
Ether, which is the native cryptocurrency of Ethereum and the second-largest by market capitalization, saw its price drop to $988 on Saturday. ETH currently trades at $997.
These market developments occur amid numerous crises in crypto market. Celsius, a major crypto lender stopped withdrawals and transfers on Sunday and has since been silent about any future plans.
After seeing its positions liquidated in multiple markets, Three Arrows Capital, a crypto hedge fund, is now facing insolvency.