Bitcoin fell below a previous cycle all-time high for the first time today, breaking through $19,776.

The peer-to-peer currency has struggled to hold the $20,000 level over the past week as liquidation and liquidity issues plagued the market as lenders like Celsius Network came under extreme pressure.

Bitcoin has lost over 30% of its US dollar value over the past week, its biggest weekly loss since the COVID pandemic began in March 2020, when BTC saw its price plunge 33.45%, according to TradingView data. Bitcoin was trading below $18,000 at press time.

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