Bitcoin Drops to $40,000 Level, Lowest Since December, Impacting Crypto Stocks
Bitcoin declined to $40,000 on Thursday, experiencing a 3.6% decrease and reaching its lowest point since December 18th. The recent downturn in bitcoin prices has also affected crypto stocks.
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Bitcoin fell back to $40,000 on Thursday, down 3.6% after earlier hitting a low of $40,601.37, its lowest since December 18th. The slide in bitcoin prices weighed on crypto-related stocks like Coinbase and MicroStrategy, which closed down 7% and 2, respectively. Crypto data analyst Julio Moreno said the market is still in a correction following the launch of the first US Bitcoin ETF in mid-January. Moreno previously projected the correction could take Bitcoin as low as $36,000. It is down 12% since the ETF launch and 3% for the year so far.
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Jan 20, 2024
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