Is Ethereum forming a double top? ETH price loses 12.5% amid fears of potential drag from Evergrande
Prices of the native asset Ether (ETH) plummeted on September 20 amid a broad selloff in the cryptocurrency market, led by concerns about a potential housing bubble crisis brewing in China. .
The pair’s exchange rate fell as much as 12.52% to $ 2,911 on the Coinbase (NASDAQ 🙂 exchange, reaching its lowest levels since early August 2021. Elsewhere in the cryptocurrency market, (), (BNB), Cardano (ADA), Solana (SOL), and other top tokens all sank together.
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The performance of the top ten crypto assets in the last 24 hours. Source: Messari The slide mimicked the mood in the broader market, as US stocks tumbled after a day of red numbers in the Asia-Pacific and European indices. On the other hand, the US dollar and government bonds rose on safe haven purchases.
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