As Ether, Bitcoin Wilt, Trading Firms Blame Lack of Bullish Catalyst for Market Swoon

Bitcoin, the biggest cryptocurrency by market value, slipped to $18,300, its lowest price since June 19, according to CoinDesk data. Meanwhile, ether, the native token of the Ethereum blockchain, which last week underwent a long-awaited software update called the Merge, slipped to a two-month low of $1,580. The total crypto market capitalization fell to $858 billion, the lowest since mid-July.