Bitcoin delivered another white-knuckle ride Tuesday, briefly turning positive before resuming its slide as speculators struggled to price in the prospect of even bigger Federal Reserve interest-rate hikes to quell inflation and the consequences of the halt of withdrawals by the lending platform Celsius.
The largest digital token was down about 5% to $22,053 as of 7:24 a.m. in New York. It had dropped as low as $20,823, the least since December 2020. Ether was down as similar amount, while altcoins like Solana, Avalanche and Polkadot were mixed.
