Bitcoin Price Drops Below $2,000 as Crypto Markets Fall Toward $70 Billion

The price of bitcoin hit a 49-day low today, falling below $2,000 for the first time in weeks amid a broad sell-off across crypto assets.

The value of the total supply of all cryptocurrencies and crypto assets tracked similarly, dropping to $72bn, a figure that was 37 percent lower than its all-time high of $115bn set in June.

Overall, the figures observed for both bitcoin and the total cryptocurrency market were the lowest since late May. Further, the asset class was down 11% over a 24-hour span at publication, a time during which it shed roughly $9bn in value.