Bitcoin Sinks Again as Risk-Off Mood Returns on Recession Fears

Bitcoin Sinks Again as Risk-Off Mood Returns on Recession Fears

Bitcoin resumed a fall on Wednesday, moving in tandem with weakening stocks amid mounting concerns about a global recession. 

The largest cryptocurrency declined as much as 2.5% to $20,316, holding right above the key $20,000 level. Ether also fell by a maximum 2.5% to $1,093.46. Shiba Inu, the 14th-biggest cryptocurrency by market cap, rallied 21% in the past 24 hours though its momentum was tailing off, according to pricing from CoinGecko.

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