Home Technology Sudden Crypto Drop Sends Bitcoin to 3-Week Low

Sudden Crypto Drop Sends Bitcoin to 3-Week Low

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Sudden Crypto Drop Sends Bitcoin to 3-Week Low

Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration

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SINGAPORE, Aug 19 (Reuters) – Cryptocurrencies fell sharply on Friday, with a sudden selloff dragging bitcoin to its lowest level in three weeks.

The reason for the decline was not immediately clear. Bitcoin fell 7.7% to $21,404 within minutes during the European morning. It recovered slightly and last stood at $22,047. Ether was last down 5% at $1,753.

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Reporting by Tom Westbrook; Editing by Toby Chopra

Our standards: The Thomson Reuters Trust Principles.

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