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Weekend Watch: LUNA Dumps 8%, Bitcoin Struggling at $36K

After yesterday’s massacre, bitcoin slipped slightly more and dropped to another multi-month low. Most altcoins are in a similar position, with Terra losing the most value on a daily scale. In contrast, TRON, Algorand, and Monero have charted impressive gains.
Bitcoin’s Latest Low
It’s safe to say that bitcoin has seen better days, which weren’t all that long ago. In fact, the cryptocurrency had spiked toward $40,000 earlier this week, after the latest FOMC meeting, in which the Fed said it will raise the interest rates by 50 basis points.
After failing at $40,000, BTC retraced slightly but remained close to that level in the next 24 hours. However, this is where the situation changed for the worse. In just a matter of hours, bitcoin dumped by more than $4,000 and plummeted to a 10-week low of $35,600 (on Bitstamp).
It bounced off at first and regained around $1,000, but the bears kept their momentum going and pushed it south once more. Thus, BTC charted another multi-month low

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