Bitcoin price falls below $43,000

On Monday, May 17, Bitcoin price traded at $42,185 — the first time since February 8, 2021. From its peak, the leading cryptocurrency has fallen about 35%.

At the time of writing, the flagship is trading around $45,000. Over the past 24 hours the asset has fallen by 8.1%, according to CoinGecko.

Ethereum price fell to below $3,480 (−10.5% over 24 hours). Binance’s BNB token dropped to $525.

The cryptocurrency market cap stands at $2.18 trillion. Bitcoin’s dominance index is 38.5%, Ethereum 18.7%.

As noted, Pankaj Balani, head of the Delta cryptocurrency platform, said that in the near term the price of Bitcoin could fall below $50,000 as the number of ‘whale’ addresses has fallen to a year-to-date low.

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