Bitcoin Drops Below $25,000 for the First Time in Three Months

Solana slumps amid speculation of FTX bankruptcy sales
Bitcoin has declined around 17% in the second half of 2023

A Bitcoin Change bureau in Tel Aviv, Israel.
Photographer: Kobi Wolf/Bloomberg

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By Teresa Xie and Muyao Shen

September 11, 2023 at 3:44 PM UTC

Updated on

September 11, 2023 at 4:41 PM UTC

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Bitcoin briefly dropped below $25,000 for the first time in three months, while speculation that FTX could begin sales of digital assets through its bankruptcy process weighed on other cryptocurrencies.

The largest digital currency slumped as much as 3.3% to $24,958 on Monday, the least since June 15, when BlackRock Inc. applied to become the first to offer a US exchange-traded fund that invests directly in Bitcoin. The US Securities and Exchange Commission has since deferred making a decision on the filing, as well as on several others.