BTC Falls Below 30k Psychological Support; Do Kwon Pushes for a Terra Hard Fork
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On Thursday, the broader crypto market tanked alongside U.S. stocks, the latter of which suffered their steepest rout in two years as investors are now starting to weigh the prospects of a hawkish monetary policy on economic growth. As of the time of writing, BTC is trading below the $30,000 psychological support after shedding 3% of its market value in the last 24 hours. The immediate resistance level for BTC currently sits near the $29,500 level. A clear move above said level could temporarily reverse the bearish trajectory. However, a failure to rise above the $29,500 resistance level could potentially kickstart another round of decline for the number one cryptocurrency by market cap.