Cryptocurrencies plummet as bitcoin falls below $27,000

Currently, investors tend to avoid risky investments as interest rates rise.

In addition, the volatile cryptocurrency market is swaying due to the price of TerraUSD. Theoretically, this currency should always maintain a stable exchange rate thanks to a number of algorithms. But in recent days, the TerraUSD stablecoin has begun to fluctuate and is currently trading below its stablecoin, heralding a loss of confidence in the system.

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