Bitcoin fell below $20,000 on Saturday to its lowest level in 18 months, as investors extended their slide away from riskier assets amid rising interest rates.
The largest cryptocurrency fell 7.1% to $18,993 at 0906 GMT, having previously touched $18,732, its lowest since December 2020.
That’s down about 59 percent this year, while rival cryptocurrency Ethereum-backed Ether is down 73 pc.
The digital currency sector has been battered this week after cryptocurrency lending firm Celsius halted withdrawals and transfers between accounts.
Companies such as Coinbase Global Inc., Gemini and BlockFi said they would lay off thousands of employees as investors left risky assets, hurting the sector as well.