Ethereum (ETH) and Bitcoin (BTC) Drop Sharply, but Arthur Hayes Says He's Not Selling

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Wed, 09/07/2022 - 06:38

Alex Dovbnya

The global crypto market cap has once again dropped below the $1 trillion level

Ethereum (ETH) and Bitcoin (BTC) Drop Sharply, but Arthur Hayes Says He's Not Selling

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Bitcoin and Ethereum, the two largest cryptocurrencies, are in deep red, plunging by 5.35% and 8.7%, respectively, over the past 24 hours.

Earlier today, the crypto king slipped to $18,540, the lowest level since June 18 on the Bitstamp exchange. At press time, it is trading at $18,773.

After reaching the highest level against Bitcoin in 2022, Ethereum also took a bearish turn. The ETH/BTC pair has plunged by almost 6% from its Sept. 6 peak.

The entire cryptocurrency market capitalization has now below the $1 trillion level.

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In a recent tweet, former BitMEX CEO Arthur Hayes says that he is not selling in spite of the sharp correction.

#Bitcoin Price Prediction #Ethereum Price Prediction

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.