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Why is bitcoin price dropping?

Why is Bitcoin price dropping? Drop in cryptocurrency price explained as bond yields increase | The Scotsman Why is Bitcoin price dropping? Drop in cryptocurrency price explained as bond yields increase Bitcoin is suffering its largest slide in months. The lead cryptocurrency nearly dropped down to £33,385 down from a high of £40,973 on Sunday.

What happened to bitcoin?

Bitcoin plunged nearly 10% in less than 24 hours, adding to a series of sustained losses over the last several months. It now sits below $20,000 for the first time since November 2020, down more than 70% from an all-time high of $68,000 per coin in November 2021. B itcoin has lost $900 billion in value since that peak.

What happened to crypto?

The flagship cryptocurrency fell to more than three-month lows on Wednesday, dropping to about $30,000 at one point for a pullback of more than 30% and continuing a week of selling in the crypto space.

Will government crackdown on Bitcoin trigger another 'crypto winter'?

Bitcoin and related assets have also come under increased scrutiny from regulators around the world as they have grown into a bigger part of the financial markets. “We believe government crackdown on cryptocurrencies can trigger another ‘crypto winter’ and reduced trading activity.