Topline<\/p>\n
The price of Bitcoin fell more than 5% in early trading on Monday, as the world\u2019s most valuable cryptocurrency led a selloff in digital tokens, reversing the recovery it mounted last week after its worst month since the 2021 crypto crash.<\/p>\n
Bitcoin’s price dropped below $86,000 again early on Monday.<\/p>\n
AFP via Getty ImagesKey Facts<\/p>\n
Early on Monday, Bitcoin\u2019s price briefly dropped below $86,000, before recovering to $86,756\u2014down 5.05% in the past 24 hours.<\/p>\n
Ether, the world\u2019s second most valuable cryptocurrency by market cap, fell 5.56% to $2,840, while other major tokens like XRP, Binance\u2019s BNB and Solana\u2019s Sol slumped 5.6%, 6.6% and 6.1% respectively.<\/p>\n
Monday\u2019s selloff pushed the global cryptocurrency market cap below $3 trillion once again, down from a peak of nearly $4.3 trillion in October. <\/p>\n
Monday\u2019s slump is a reversal of last week\u2019s crypto market recovery, and Bloomberg reported<\/a> that traders expect Bitcoin\u2019s drop could drop as low as $80,000 before the slide is arrested.<\/p>\n What Do We Know About The Yearn Finance Hack?<\/p>\n CoinDesk reported<\/a> Monday\u2019s selloff was accelerated after the crypto investment platform Yearn Finance reported a hack. The company announced that hackers successfully drained $9 million<\/a> in yETH tokens. In a follow-up statement, the company said it has set up a \u201cwar room” with its audit partners and \u201ca full postmortem investigation is underway.\u201d<\/p>\n Read More<\/p>\n","protected":false},"excerpt":{"rendered":"Topline The price of Bitcoin fell more than 5% in early trading on Monday, as the world\u2019s most…\n","protected":false},"author":2,"featured_media":320795,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,2009,59435,68651,99,59438],"class_list":["post-320794","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-business","tag-crypto-crash"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/320794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=320794"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/320794\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/320795"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=320794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=320794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=320794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}