Bitcoin drops below its lowest level since July 2021

 

By market value, Bitcoin is the world’s largest digital currency. Bitcoin fell to an intraday low of $32,650.02, its lowest level since July 2021, and was down 5% to $32,860.91 at around 7:12 a.m. ET, according to Coindesk data. 

Bitcoin has continued to fall after a larger stock sell-off in the United States last week sent the cryptocurrency market into a frenzy, causing the cryptocurrency to fall by roughly 10%. 

This year, the virtual currency has been trading in a narrow range as it attempts to reclaim its late-2021 highs. 

The drop comes after the Dow Jones Industrial Average fell more than 1,000 points on Thursday, and the Nasdaq fell 5%. These losses were the worst in a single day since 2020. On Friday, the Dow and Nasdaq fell again. 

It is now less than half its peak price of $68,990.90 in November 2021. 

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