Bitcoin Drops Below $40K as Sell-Off Intensifies

AnalysisBitcoin Drops Below $40K as Sell-Off Intensifies

Alex Dovbnya

Bitcoin, the largest cryptocurrency, has slipped below the $40,000 level

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Bitcoin, the world’s largest cryptocurrency, dropped to an intraday low of $39,621 on the Bitstamp exchange at 8:01 p.m. UTC.

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The largest cryptocurrency is now trading below the $40,000 level for the first time since Feb. 28.

Bitcoin has plunged over 12% over the last three days, with bears asserting their dominance.

The market capitalization of the top cryptocurrency currently stands at $757 billion.

The largest cryptocurrency is down 42.23% from its record peak that was achieved in November.   

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