Amid stablecoin concerns starting with UST, Bitcoin hit $24,000.
Bitcoin has regressed to $24,000 with a loss of close to 17% in the last 24 hours. Thus, Bitcoin sagged below the bottom level of July 2021, which is called an important support zone of $ 28,000.
The cryptocurrency market is now grappling with concerns about the USDT stabilization following the turmoil created by the UST. While USDT regressed to $0.97; BUSD, on the other hand, rose above $1. Regarding the depreciation in USDT, Tether CEO Paolo Ardoino reiterated in a tweet that USDT is supported by 1 dollar.
Bitcoin recovered from the lows it saw at the time of publication and is trading at $27,305.
