The price of bitcoin dropped below the $33,000 level on Friday for the first time in over a week, with most other major cryptocurrencies trading in the red.
The world’s top digital asset by market capitalization plunged to $32,639 during Friday trading. Ethereum was down 10.0% to $2,079, while other top-20 cryptos Cardano, Ripple, Dogecoin, and Polkadot were losing between 5% and 10%.
Over the last several weeks, bitcoin is down over 50% from its April price peak of nearly $65,000. The cryptocurrency market is facing mounting regulatory crackdowns around the world.
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This follows various actions undertaken by governments across the globe against crypto. China banned its financial institutions from offering any form of crypto services back in May, while the United Kingdom last month blocked Binance, the world’s largest crypto exchange by trading volume, from carrying out regulated activities in the country.
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