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2.44%2-Month Low: Bitcoin Price Drops Below $9K
The price of bitcoin has fallen below $9,000 for the first time in two months, representing a decline of roughly 11% on the day.
The price of bitcoin has fallen below $9,000 for the first time in more than 2 months.
As of press time, CoinDesk's Bitcoin Price Index (BPI) had hit a low of $8,932.89, a move that came hours after the market opened above $10,000. As previously reported, the price of bitcoin has seen significant volatility on Thursday as it fell below that figure.
STORY CONTINUES BELOW
The fall below $9,000 marks the lowest bitcoin has fallen since late November 2017, market data shows, when it first reached that milestone. As of press time, the price of bitcoin was trading at roughly $8,954.13, representing a decline of roughly 11%.
Additional market data reflects how many other cryptocurrencies are seeing price declines during the day's session. Most of the top 25 cryptocurrencies are seeing double-digit percentage declines over the past 24 hours, according to price-tracking websites CoinMarketCap and OnChainFX. Per CMC, tokens such as IOTA and Lisk have seen declines in excess of 15% in the past day as of the time of writing.
The declines follow a tough month for cryptocurrency markets. Market data shows that, in the past 30 days, the collective market capitalization for all cryptocurrencies has fallen from more than $800 billion to less than $500 billion.
Graphhttps://www.shutterstock.com/image-photo/stock-exchange-chart-falling-down-graph-746117353?src=mejviIzSb6zlF0V4HUi1tw-1-32 image via Shutterstock
The headline of this article has been corrected.
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. When he's not reporting on digital assets and policy, he can be found admiring Amtrak or building LEGO trains. He owns < $50 in BTC and < $20 in ETH. He was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
