Bitcoin
BTCUSD,
+0.95%
plunged 7% to as low as $29,100 Wednesday, the lowest level since June 2021. The cryptocurrency lost almost $2,500 during the past hour, while it is down about 58% from its all-time high in November, according to CoinDesk data. Ether
ETHUSD,
+0.82%
declined 8% to as low as $2,127. Investors are watching the rescue plan to be conducted to support a so-called algorithmic stablecoin TerraUSD, which fell to as low as 23 cents on the dollar on Wednesday, before it rebounded to around 33 cents.
