Categories: Bitcoin Latest News

Bitcoin Suffers Biggest Drop in Four Weeks, Nearing $40K

Thursday’s 6.6% drop for the largest cryptocurrency was bitcoin’s steepest since Jan. 21.Read MoreFeedzy

Bitcoin (BTC) plummeted in late trading Thursday to below $41,000, the biggest daily dip since Jan. 21.

BTC was changing hands at $40,983 at the time of publication.

“Bitcoin was the victim to a major de-risking environment on Wall Street as investors view short-term geopolitical risks and potential overly aggressive [Federal Reserve monetary] tightening as a risk to all risky assets,” said Edward Moya, senior market analyst at the foreign-exchange brokerage OANDA.

Bitcoin is down 6.6% on the day after a roller-coaster week of trading.

The largest cryptocurrency by market capitalization posted its strongest gain in weeks on Wednesday before Thursday’s skid.

Markets are currently weighing growing tensions in Europe as Russia continues its standoff with Ukraine.

Other popular cryptocurrencies including ether (ETH) and solana (SOL) posted losses both near 7%.

The price drop extended bitcoin’s losses so far in 2022 to about 13%.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Recent Posts

How Local Businesses Can Use Bitcoin For Payments

Bitcoin Magazine How Local Businesses Can Use Bitcoin For Payments I. Introduction Bitcoin is often…

55 minutes ago

Bitcoin Price Set for Big Move as Volatility Drops

Bitcoin Magazine Bitcoin Price Set for Big Move as Volatility Drops Bitcoin appears to be…

55 minutes ago

FPPS Is Not A Free Lunch For Bitcoin Miners

Bitcoin Magazine FPPS Is Not A Free Lunch For Bitcoin Miners Bitcoin mining is a…

55 minutes ago

Conference Bitcoin Afrique: A Bitcoin-Only Revolution in French-Speaking Africa

Bitcoin Magazine Conference Bitcoin Afrique: A Bitcoin-Only Revolution in French-Speaking Africa In April 2025, Bitcoiners…

55 minutes ago

GameStop Urged to Convert Its $5B Cash Into Bitcoin by Strive’s CEO Matt Cole

Matt Cole, CEO of Strive Asset Management—an investment firm co-founded by Vivek Ramaswamy—has urged GameStop…

2 hours ago

Bitcoin Likely to Head Even Lower, but Seeds of Next Bull Move Are Being Sown

"I wouldn't even be in this situation if it wasn't for you. You brought down…

3 hours ago