The price of bitcoin has dropped nearly 9% since early Thursday as part of a broader sell-off of risky assets. A report that Elon Musk’s Space X had dumped the cryptocurrency stoked investors’ fears.

According to CoinGlass, a cryptocurrency trading platform, $1 billion has been drained from cryptocurrencies over the past 24 hours — with bitcoin accounting for nearly half of that loss.

The world’s most valuable cryptocurrency was trading at $26,327 early Friday, 16% below its peak this year in early July, according to data from CoinMarketCap.

Thursday’s sell-off, which hit stock markets as well as traditionally safer bets like government bonds, came after officials at the US Federal Reserve expressed concern that inflation “remained unacceptably high,” ...#BTC #crypto2023 #Worldcoin #pepe #crypto2023 $BTC