{"id":115869,"title":"Bitcoin is down more than 16% in the past 24 hours.","publisher":"Share Talk","author":"sharetalk","published":"2024-08-05T07:06:51+00:00","modified":"2024-08-05T07:06:51+00:00","canonical_url":"https://www.share-talk.com/bitcoin-is-down-more-than-16-in-the-past-24-hours/","markdown_url":"https://www.share-talk.com/bitcoin-is-down-more-than-16-in-the-past-24-hours.md","json_url":"https://www.share-talk.com/bitcoin-is-down-more-than-16-in-the-past-24-hours.json","category":"Blogs","categories":["Blogs","Fintech","Technology","Technology, Media & Telecoms"],"tags":["Binance","Bitcoin","BNB","BTC","Cathie Wood","cryptocurrency","DOGE","Dogecoin","Donald Trump","Elon Musk","ETFs","ETH","Ethereum","Litecoin","LTC","Michael Saylor","Nashville","Ripple","Sam Bankman-Fried","SEC","SOL","Solana","TSLA","US Securities and Exchange Commission","USA","XRP"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/08/GUMvYfEXkAAawM3.webp?fit=1200%2C598&quality=80&ssl=1","format":"news","language":"en-GB","content":"Bitcoin plummeted amid a global market sell-off, which has heavily impacted the technology sector.\n\nThe world’s largest cryptocurrency dropped by 11.6% to $51,410, following a 13.1% decline last week.\n\nThis marks its steepest fall since the “crypto winter” following the collapse of the FTX exchange in 2022.\n\nEther also saw a significant decline, losing over 20% of its value before recovering slightly to trade at $2,360. Most major cryptocurrencies were significantly down.\n\nKhushboo Khullar, a venture partner at Lightning Ventures, noted that the widespread stock slump triggered some “panic,” leading investors to liquidate assets to meet margin calls.\n\nDespite the recent downturn, Bitcoin remains about 23% higher this year, compared to a 19% increase in gold and an 8% rise in global stocks."}