This year, 2022, has not started well for cryptocurrencies whether it's about Bitcoin or Altcoin, everything seems to be underperforming.
Bitcoin is trading at a 3-month low, down 10 percent for this year and it had hit a low below USD 40,000 as well. This is after an all-time high of almost USD 68,000 in the previous year there, but there is a sell-off in all risky assets. However, the major point is the kind of sell-off that is seen in the last 24 hours itself USD 340 million has been sold and within this USD 122 million sales have come in from Bitcoin.
Also Read: Explained: How does IC15, India's first cryptocurrency index, work? How will it help investors?
Of course, many people find it a good level to start buying, but the markets do believe that there is still more downside in the days to come for the sector.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.