Sudden crypto market drop sends bitcoin below $22,000

Bitcoin and ether ended Thursday in the red, but ether has surged more than 100% since mid-June.

There was a sudden sell-off in early European trading on Friday that caused the price of Bitcoin to fall to its lowest level in more than a month.

At 2:30 a.m., the price of the virtual currency dropped from $22,738 to $21,500. Over the course of a 10-minute period, it recovered to just under $22,000.

After a rise in U.S. stocks, the world's largest digital coin surpassed the $25,000 level for the first time in six months.

After falling from $1,808 to $1,728, ether rebounded. By 3:20 a.m. It was at a level it hadn't traded at in over a month.

There is a chart.

Line chart with 2018 data points.The chart has 1 X axis displaying Time. Range: 2022-08-12 06:16:52 to 2022-08-19 06:16:52.The chart has 1 Y axis displaying values. Range: 21000 to 26000.End of interactive chart.