Cryptocurrency crashes!

Cryptocurrencies tumbled over the weekend as U.S. inflation data continued to hit a 40-year high in May, sparking pessimism.
As of writing, the total cryptocurrency market cap fell to $1.04 trillion, down 6.5% from the previous session, with Bitcoin at around $23,660, Ethereum at $1,200, BNB at $220, Solana at $29 and Dogecoin at $0.06.
Entering 2022, most cryptocurrencies are down more than 50%. Among them, bitcoin is down 45.9%, Ethereum 64%, BNB 54%, Solana 83% and Dogecoin 64%.

If Ethereum continues to fall toward $1,200 (200-week moving average), the outlook for other altcoins will get even bleaker.

Bitcoin fell to an 18-month low and Ethereum and other cryptocurrencies also saw a big sell-off as us inflation spreads widened.
Bitcoin tumbled to its lowest level in about 18 months as US inflation data continued to rattle risk assets around the world on Friday
Bitcoin fell below $24,000 a coin in intraday trading on Monday, June 13, for the first time since December 2020, down more than 13% on the day.