Tuesday, April 23, 2024
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Bitcoin staggered into 2022. 

The preeminent cryptocurrency has lost 60% of its value, while the wider crypto market has shrunk by $1.4 trillion, squashed by rising interest rates, vanishing risk appetite and corporate collapses including Sam Bankman-Fried’s FTX.

Crypto funds have seen net inflows of $498 million in 2022, versus $9.1 billion in 2021, according to data from digital asset manager CoinShares, reflecting how mainstream finance has steered clear of the market through its annus horribilis.

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