Share this article
BTC
$91,200.50
+
4.39%ETH
$1,699.33
+
7.73%USDT
$1.0004
+
0.05%XRP
$2.1605
+
3.50%BNB
$607.98
+
1.93%SOL
$144.50
+
5.30%USDC
$0.9998
-
0.00%DOGE
$0.1725
+
8.88%ADA
$0.6559
+
5.27%TRX
$0.2449
-
0.39%LINK
$13.85
+
5.59%AVAX
$21.59
+
7.78%LEO
$9.0404
-
1.11%XLM
$0.2613
+
3.06%SUI
$2.4612
+
11.33%SHIB
$0.0₄1331
+
7.42%TON
$3.0082
+
3.84%HBAR
$0.1770
+
4.60%BCH
$355.56
+
3.29%LTC
$82.94
+
6.33%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Plummets to Below $40K
The world’s largest cryptocurrency by volume has dropped in a month nearly 40% from its all-time high.
Bitcoin (BTC) continued its month-long swoon Tuesday night, dropping below $40,000 for the first time since early February.
STORY CONTINUES BELOW
- The cryptocurrency was trading around $39,678 as of 05:29 UTC (1:29 a.m. ET) – a more than 12% drop over the previous 24 hours.
- Bitcoin’s 24-hour price ranged from a low of $38,960 to a high of $45,850.
- Bitcoin has fallen nearly 40% since its high of over $64,000 in February.
- Other major cryptocurrencies continued to fall, too. Ether (ETH) dipped below $3,000 for the first time since May 2, although it had regained this threshold as of 01:29 UTC.
- Joe DiPasquale, the CEO and founder of BitBull, a cryptocurrency hedge fund, said bitcoin’s volatility this year is consistent with its history of “higher highs and higher lows.”
- He called the “fall in price ... a natural consolidation period that we see as necessary for the support lines to form for future appreciation.”
Read more: Now’s the Time to Bet on Volatility in Bitcoin and Ether Markets: Options Experts
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
