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# Bitcoin falls below $40k amid global stocks pullback
- URL: https://btcpeers.com/bitcoin-falls-below-40k-amid-global-stocks-pullback-2/
- Published: 2021-09-22T10:10:00.000Z
- Updated: 2023-09-24T15:40:38.000Z
- Author: John Williams
- Tags: News, #saudu, #Import 2025-12-27 14:07

On Tuesday, Bitcoin along with several other cryptocurrencies printed massive losses, with the total market capitalization of the sector losing nearly $200 billion.

While the flagship cryptocurrency fell below $40,000, many altcoins recorded double-digit losses. Although Bitcoin has reclaimed the $40,000 benchmark, Ethereum is still trading at less than $3,000.

The latest price drop was quite unexpected judging by the position of things over the weekend. Just a few days ago, Bitcoin was above $48,000, an 11-day high. By Monday, the price slumped in a matter of hours to a low of 42,500\. It managed to recover to the $44,000 region, but this was short-lived. The bears took hold of the market and sent the price tumbling to below $40,000, its lowest price point since early August. As of press time, Bitcoin had recovered slightly to $42,300.

The market losses are not peculiar to just the [crypto](https://btcpeers.com/what-is-the-best-cryptocurrency-to-invest-in/) space. The US financial markets also saw similar downturns. The S&P 500 closed with a 2% decline, its worst trading day since May even though the futures contracts opened higher yesterday ahead of the next Fed meeting.