The price of Bitcoin (BTC) has fallen by 4.37% to $22,758.30 at 9am Sydney time.
Bitcoin currently has a market capitalisation of $438.72 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently lower by 5.35%, trading at $1,556.18
Together Bitcoin and Ethereum make up almost 60% of the total cryptocurrency market.
This means that the prices for Bitcoin and Ethereum can indicate the direction of the market more broadly.