After a broader stock sell-off in the United States last week sent the cryptocurrency market into a frenzy and caused bitcoin to tumble by about 10%, bitcoin has continued to fall.
According to data from Coin Metrics, Bitcoin, the world’s most valuable digital currency, was down around 3% at $33,438.03 late Sunday. Bitcoin has been trading in a limited range this year as it strives to regain its late-2021 highs.
The cryptocurrency is currently worth half of what it was in November 2021, when it peaked at $67,802.30.
The dip comes after the blue-chip Dow Jones Industrial Average dropped over 1,000 points and the Nasdaq fell 5% on Thursday. These were the largest single-day losses since 2020. On Friday, the Dow and Nasdaq plummeted once again.
