MicroStrategy and El Salvador Lick Wounds as Bear Market Bites

Bitcoin slid to lows of $20,950 in the early hours of Tuesday morning — hours after the S&P 500 officially confirmed a bear market. Things went from bad to worse for the world's biggest cryptocurrency during Asia trading hours, when selloffs have been especially pronounced of late. All of this comes amid uncertainty about how the Federal Reserve plans to tackle runaway levels of inflation, with an increase of 75 basis points now seen as increasingly likely. While CoinMarketCap's data shows there's little to cheer about, BTC later rebounded… returning to $23,000.