Bitcoin drops value by 6.1% to trade at $56m

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The Bitcoin in the early hours of Monday dropped by 6.1% in the early hours of Monday to trade at $56,377.84.

This is coming after enduring a bigger loss on Saturday.

The crypto dropped as much as 15% on Saturday, its biggest intraday drop since February, just days after hitting record highs.

Bitcoin was also down by 6.1% on Monday morning as the total crypto market cap dropped to $2.01 trillion.

Reports say the downturn was due to speculation that the US Treasury may take action against money laundering that is carried out using digital assets.


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