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One of the most prominent crypto hedge funds just defaulted on a $670 million loan

Bitcoin could plunge even further to a low of $13,000, one strategist warns

Bitcoin rallied to a record high of nearly $69,000 at the height of the 2021 crypto frenzy. In 2022, it’s moved in the opposite direction.

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Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital

, stating that the fund failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC,…

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