Bitcoin dropped below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.

Bitcoin fell as much as 6% to $19,377.08 at 2:54 pm Hong Kong on Saturday. The largest token by market value has fallen for 12 straight days. Ether breached the $1,000 mark briefly and dropped to $999.86, the lowest since January 2021, before paring losses.

Source: National News Agency