Bitcoin price plummets below $56k as it drops $15k over the past 24 hours

Bitcoin dropped below $56k yesterday as sellers push the cryptocurrency toward the bottom of its weeklong price range.

Over the past 24 hours, Bitcoin has fallen some $15,000.

This morning, the price of the cryptocurrency plummeted and fell nearly $10,000 in roughly an hour to a temporary low of $42,000 before bouncing up to $45,000.

The leading cryptocurrency reflected a broader drop in crypto markets, according to CoinDesk’s price index, with some cryptocurrencies falling more than 20% over the past 24 hours.

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