Bitcoin Retests $20K While CEL Holds Gains Amidst Market Bleeding

The world’s foremost cryptocurrency, Bitcoin, has had an eventful week as it briefly hit the $22,500 benchmark on Friday. The crypto has been having a hard time for the past month, trading below $20,000. Detractors even went so far as to predict a $12,000 drop for the token amid the broader market’s bearish turn. Yet it rallied last week, breaking the $22,000 resistance mark before dropping again. Today, Bitcoin has climbed back and is currently trading around the $20,000 mark. Meanwhile, as the crypto ecosystem undergoes bearish turns in the throes of inflation, the Celsius price dropped 17%. The CEL token had soared by 13% on Sunday only to dip from a $1.7 high to $1.43 on Monday. At the time of writing, the crypto is holding steady in the $1.70 price range. Related Reading: Why The Cardano Price Might Be On The Verge Of Another Decline Multiple Events Clash With Each Other, Causing Extreme Volatility In Crypto Market This season is a highly volatile one for the crypto market as several significant events seem to be clashing. On the one hand, there is the Ethereum Merge, a movement from the protocol’s PoW consensus to the energy-efficient PoS. The much-anticipated event has been the subject of much hype and market movements. It will take place this November 15th after multiple postponements due to several hitches in the development process. Another event analysts expect to affect the crypto market is the CPI release on Septe...