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Crypto Market Sudden Drop Sends Bitcoin Below $22,000


Bitcoin and ether ended Thursday in the red, but ether is up more than 100% since mid-June.

Yu Chun Christopher Wong | S3studio | beautiful pictures

Bitcoin on Friday fell to its lowest level in more than three weeks, dropping below $22,000 amid a sudden crypto sell-off in early European trading.

Bitcoin dipped slightly from $22,738 to under $21,500 at 2:30 a.m. ET, according to CoinDesk data, before recovering slightly to just under $22,000 over a 10-minute period.

It comes right after the world’s largest digital currency break through the $25,000 level for the first time since June after US stocks rose.

Ether dropped from $1,808 to $1,728 at the same time before creating a muted rally. By 3:05 a.m. ET, it stood at $1,733, where it hasn’t traded since Aug.

The cause of the drop, also sent Binance Coin, Cardano and Solana fall, not immediately obvious.

Bitcoin and ether ended Thursday in the red, but ether is up more than 100% since mid-June as investors brace for major upgrade in ethereum network.



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