Bitcoin prices fell nearly 5% and traded below the $21,000
mark on Wednesday after a turbulent week saw the world’s largest cryptocurrency
plunge below the $20,000 level for the first time since 2020. The digital token
is down over 52% so far this year, and trading over 70% below its record high
of $69,000 it had hit in November 2021.

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Several Bitcoin investors have been selling in this
environment as prices continued to fall over the past few months. The coin over
the weekend dropped around $17,700, the lowest level since the end of 2020.
Overall, digital-asset investment products saw outflows of around $39 million
last week, with total assets now at their lowest level since February 2021,
according to Coinshares data.

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The global cryptocurrency market cap was at $886.66
billion, down 3.94% in the last 24 hours. However, the total cryptocurrency 24
hours trading volume is $69.31 billion. The Crypto market was trading mixed on Wednesday
amid a lack of fresh triggers. However, investors preferred profit booking than
raising their hopes about a long-term rebound.

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Bitcoin fear and greed index on Wednesday, June 22, 2022,
went from the extreme fear level of 9 to the level of 11 as per the
alternative. me. The Fear and Greed index is a technique for assessing
investors’ emotions toward the market.

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Bitcoin is currently trading at $20,191.90, down by 4.64%.
In the last 24 hours, the highest it touched was $21,620.63 and the lowest was
$20,045.63. Bitcoin has a current market cap of $385,413,475,108. It has a
circulating supply of 19,073,943.00. BTC coins have a maximum supply of
21,000,000 coins.

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Crypto exchange Vauld lays off 30% of staff, in a move to
cut costs

Crypto exchange Vauld has laid off 30% of its workforce,
reported MoneyControl. Roles impacted include marketing, talent acquisition,
and others, said Darshan Bhatija, co-founder and CEO of the exchange. “Two
months of their salaries paid as a severance payment and retain their signing
and/or joining bonus, 12 months health insurance for them and their family, and
our talented team working closely with them to find a great place to
work,” he said. The company will also be looking at reducing marketing
expenses, slow hiring, reducing executive compensation by 50%, and pausing most
vendor engagements.

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BlockFi signs $250 million revolving credit agreement with
digital asset exchange FTX

Crypto firm BlockFi has signed a term sheet with digital
asset exchange FTX for a $250 million revolving credit facility, CEO Zac
Prince, said in a tweet. BlockFi will get access to capital amid a fiasco in
the digital currency market. Last week, the company said it was reducing its
headcount by about 20%, in addition to implementing other cost-cutting measures
like reducing marketing spending and executive compensation.