The cryptocurrency industry was on edge on Monday as bitcoin held just above $20,000 and investors feared that problems at major crypto players could unleash a wider market shakeout.
Bitcoin, the world's biggest cryptocurrency, dropped on Saturday to as low as $17,592.78, falling below the key $20,000 level for the first time since December 2020.
It picked up slightly during London trading hours on Monday, at around $20,510 at 1232 GMT. But it has still lost 55% of its value this year and 35% this month alone in the cryptocurrency sector's latest meltdown.
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