
Bitcoin Crashes Below $42,000 as Other Cryptos Follow
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Bitcoin’s (BTC) price slipped below $42,000 on Monday morning, reaching its lowest point since March 23
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The flagship cryptocurrency is down more than 9% since reaching the $47,000 level in early April
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Top altcoins such as Solana and Luna are performing even worse than BTC, losing 20% and 22%, respectively, over the past week
The world’s largest cryptocurrency, Bitcoin fell below $42,000 on Monday morning, reaching its lowest point since March 22.
The latest drop has extended a decline of 9% from more than $47,000 where the flagship cryptocurrency was trading in early April, according to CoinMarketCap.
The recent crash comes despite LFG adding more than $173 million worth of BTC to its wallet over the weekend. The company now boasts of over 40,000 BTC in its holding.
Experts have attributed the recent slide to traditional investors refusing to bet on cryptocurrency amid economic and political uncertainties stalking the risk assets.
Bitcoin was not the only cryptocurrency to suffer losses in today’s market dip. Most of the other top altcoins are performing even worse than BTC today and over the past 7 days.
Read also: Elon Musk Suggests Dogecoin Payment for Twitter Blue Users
Solana and Luna are among the biggest losers, dropping by 20% and 22%, respectively, over the past week.
For other assets among the top 10 based on market cap, Avalanche is down more than 20%, the same as Cardano. XRP (14%) Ethereum (12%), BNB (9%), and Dogecoin (6%).
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