Bitcoin Falls Below $18,000 After Breaching The 2017 High

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Bitcoin fell below a prior cycle’s all-time high for the first time ever today, breaching the $19,776 level.

The peer-to-peer currency had been struggling to maintain the $20,000 level over the past week as liquidation and liquidity woes plagued the market as lenders such as Celsius Network fell under extreme pressure.

Bitcoin has lost over 30% of its U.S. dollar value over the past week, the highest weekly loss since the outset of the COVID pandemic in March 2020 when BTC saw its price crash by 33.45% per TradingView data. Bitcoin traded below $18,000 at press time.

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