Bitcoin dipped to its lowest level in more than five months as cryptocurrencies sank with risk aversion sweeping worldwide markets.
This is the second time this year that the world’s largest digital currency by market value has fallen below $40,000 hitting $38,642 mid-way through the Asia trading session.
According to CoinGecko, Bitcoin was down by nearly 8% in the last 24 hours, while Ether was down by nearly 10%, hitting $2,841 during the intradate
Other layer-1-based tokens such as Solana and Cardano have also been dragged down, posting declines of 9% and 10% respectively. Overall digital tokens have shed some $1 trillion in value since a November peak.