First Mover Asia: Loss of billions of dollars due to Terra collapse. Here is a lasting effect. Bitcoin sees red

By early afternoon, Bitcoin had fallen nearly 4% in the past 24 hours, dropping to the lower end of the $29,000-$30,000 range it held for nearly two weeks after the collapse of the UST stablecoin and its backing LUNA token. The largest cryptocurrency by market cap is around $40,000, down 26% from this month’s high and about 55% since reaching a peak in November last year. Ether, the second-largest cryptocurrency by market cap, fell about 3.5% over the same period and traded below $2,000.

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