Sudden crypto market drop sends bitcoin below $22,000

Bitcoin on Friday fell to its lowest level in more than three weeks, dipping below $22,000 amid a sudden crypto sell-off in early European trading.

Bitcoin plunged from $22,738 to below $21,12.34 at 4:00 p.m. ET, according to CoinDesk data. Earlier in the morning, the cryptocurrency fluctuated between $21,500 and $22,000.

It comes shortly after the world’s largest digital coin surpassed the $25,000 level for the first time since June following a rise in U.S. stocks.

Ether fell from $1,808 to $1,728 at the same time before staging a muted rebound. It had slipped again, falling further to $1,683.90 by 4:00 p.m. ET.

A specific cause for a drop at that time, which also sent Binance Coin, Cardano and Solana falling, was not immediately clear.