The largest cryptocurrency by market capitalisation Bitcoin fell to below US$16,000 early last week, before recovering to the US$16,200 level at press time. The cryptocurrency had last traded at that level in November 2020.
This follows a volatile market, amid reactions to the fallout of crypto exchange FTX as well as its sister firm Alameda Research. Bitcoin had fallen about 66% from the year’s high at above US$47,000 recorded in early January.
