Bitcoin fell below the 18,500 price level for the first time on Saturday, failing to return to the $ 20,000 to $ 23,000 range that was steadily trading last week.
As of press time, Bitcoin was trading at around, 18,319 per currency, down 10.8% in the last 24 hours. Bitcoin's market capitalization fell by about $ 350 billion, down 73% from its all-time high in November, according to CoinGecko.
Bitcoin price declines on Saturday morning also brought down the broader cryptocurrency market, where Ether dropped 12.4% to 48 948, below its 2017-2018 cycle high of $ 1,448.
Other major cryptocurrencies have seen a small decline, with Solana's SOL down 8.6% to $ 29.08, Cardano's ADA down 9.1% to 44 cents, Ripple's XRP falling 6.1% to 30 cents in the last 24 hours.
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