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Fortune

Marco Quiroz-Gutierrez

Bitcoin falls 5% overnight to $22,300—after touching $25,000 last month—as Silvergate troubles weigh on price

Silvergate Bitcoin Crypto Fortune FTX

(Credit: Photo Illustration by Fortune)

Bitcoin’s wings were clipped overnight as it fell 5% and dropped to a 16-day low of $22,267.

The price on Friday morning recovered slightly, to about $22,300, while the second-most-popular cryptocurrency, Ether, had fallen about 3.5%, to $1,567, over 24 hours.

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