Sudden crypto market drop sends bitcoin below $22,000

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

Yu Chun Christopher Wong | S3studio | Getty Images

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

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

It comes shortly after the world’s largest digital coin surpassed the $25,000 level for the first time since June following a rise in U.S. stocks.

Ether fell from $1,808 to $1,728 at the same time before staging a muted rebound. By 3:05 a.m. ET, it stood at $1,733, a level it has not traded at since Aug. 10. 

The cause of the drop, which also sent Binance Coin, Cardano and Solana falling, was not immediately clear. 

Bitcoin and ether ended Thursday in the red, but ether has surged more than 100% since mid-June as investors prepare for a massive upgrade in the ethereum network.

You May Also Like

Who’s Renae Olivia?(51-year-old mother-of-two who appears HALF her age turns into a TikTok star) Wikipedia, Biography, how old, Instagram, Twitter & Fast Details

Renae Olivia Wikipedia                  …

‘500 million Indonesian rupiah for justice’ letter is a scam: AGC – Mothership.SG

The Attorney-General’s Chambers (AGC) was alerted to a scam letter received by…

Ohio Officer Cleared In Fatal Shooting Of 16-Year-Old Ma’Khia Bryant

Ohio Officer Cleared In Fatal Shooting Of 16-Year-Old Ma’Khia Bryant #Roommates do…

SpaceX raising $750 million at a $137 billion valuation, investors include Andreessen-Horowitz

Elon Musk‘s re-usable rocket maker and satellite internet company, SpaceX, is raising…