Bitcoin fell 6.1% to $ 18,866.77 at the 2004 GMT on Thursday, which set the largest and most popular cryptocurrency at $ 1,226.41 from its previous close and fell 60.9% from a year-over-year high of $ 48,234 on March 28.
Several major players in the cryptocurrency market have experienced difficulties, and further decline may force some crypto investors to sell shares to meet margin calls and close losses. Ether, a currency linked to the ethereum blockchain network, dropped by 7.5% went to $ 1,016.08 on Thursday, losing $ 82.38 from its previous close.
Both digital assets are under heavy pressure as US lender Celsius Network this month said it would suspend withdrawals. Bitcoin and ether were also rocked by the apparent lack of funding for the crypto hedge fund Three Arrows Capital, a person familiar with the matter told Reuters it had entered. Terra USD in May, which saw stablecoin lose almost all of its value, as well as its paired token.
