Cryptocurrency prices fell across the board on Thursday, with bitcoin dropping as much as 7% — a move that came in tandem with a broader decline in financial markets.
Bitcoin’s price dropped down from about $39,500 at 9 a.m. ET to as low as $36,863.93 as of 1 p.m. ET, according to Coinbase data. At the time of writing, BTC is changing hands at roughly $36,845, per Coinbase data via TradingView.
The move is generally in line with a broader trend across financial markets on Thursday as most major US stock indexes were down. At the time of writing, the Nasdaq 100 is down just over 700 points, or a roughly 5.1% loss, since the open.
Bitcoin’s price rose Wednesday after starting May — which has historically been a good month for the crypto — in the red after trending downwards throughout April.
Elsewhere, Coinbase’s stock price crashed as much as 11%, down from $124.69 at open to as low as $112.63. Coinbase has since recovered marginally to trade at $115.64 at the time of writing.