Bitcoin Price Falls 54% From Its High

Bitcoin Price Falls 54% From Its High

The cryptocurrency market has continued its decline over the past week, reflecting the decline of the broader stock market.

The world's largest cryptocurrency, bitcoin, fell to $31,075.70 on Monday evening, down 10% from 5 pm on Sunday. EDT, as per prices from CoinDesk.

The price of bitcoin is down 54% from its all-time high of $67,802 in November.

Bitcoin price

It is on track for its worst five-day stretch since the five days ended March 16, 2020, when it fell nearly 38%.

Ethereum, the second-largest cryptocurrency, fell on Monday to $2,286.10, down nearly 10% from Sunday evening's price.

Bitcoin and cryptocurrencies are more widely known for their violent price swings.

Bitcoin

Individual investors controlled the market for years, but institutional investors, such as hedge funds and money managers, have begun to dominate.

Crypto prices have been very stable for 2022 as investors prepare for rising interest rates.

BTC price

According to CoinMarketCap, the crypto market has been active in the last 24 hours, with the market volume in that period being around $155 billion. The global crypto market fell to $1.4 trillion.

Cryptocurrency companies are working to become household names.