Bitcoin Drops Below $22,000

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

According to CoinDesk data, the world’s largest cryptocurrency briefly plunged from $22,738 to below $21,500 at 2:30 am ET before recovering slightly to just under $22,000.

Ethereum plunged from $1,808 to $1,728 at the same time before a muted rebound. By 3:05 am ET, it stood at $1,733.

Binance Coin, Cardano, and Solana also fell, though the cause of the widespread crypto drop was not immediately clear.

On Tuesday, Bitcoin and Ether ended in the red, though Ether is up more than 100% since mid-June amid investor preparation for a significant upgrade in the Ethereum network.

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