Bitcoin Falls Below $40,000 for the First Time Since December
- Solana, Avalanche fall more than industry bellwether Bitcoin
- Returns are negative so far this year after 160% rally in 2023
A neon Bitcoin sign inside a store in Prague.
Photographer: Milan Jaros/BloombergThis article is for subscribers only.
Bitcoin fell below $40,000 for the first time since early December as enthusiasm over the launch of exchange traded funds that directly invest in the largest cryptocurrency ebbs.
The digital currency token fell as much as 5.3% to $39556 as of 2:42 pm in New York on Monday. That’s the lowest since Dec. 4. Smaller tokens like Ether and Solana were down 6.7% and 9.3% respectively.