Bitcoin fell below $26,000 for the first time in 16 months, amid a broader sell-off in cryptocurrencies that erased over $200 billion from the entire market in a single day.
The price of bitcoin plunged as low as $25,919.33 Thursday morning, according to Bitstamp data. That marks the first time bitcoin has sunk below the $27,000 level since Dec. 26, 2020.