Bitcoin plunged in value overnight as concerns over the Omicron variant took their toll on financial markets.
The world’s biggest cryptocurrency fell as low of around $42,000 (£32,500) overnight.
It sharply crashed by 26% from a value of $57,000 (£43,000) yesterday morning and despite making some gains later, it is still down by 17% at $47,000 (£35,500).
It follows a volatile week, not just for cryptocurrencies, but for markets in general, as investors remain on edge about the Omicron variant.
Economic growth projections from the International Monetary Fund are likely to be downgraded due to the new strain, which has led to fresh travel restrictions across the world.
Other cryptocurrencies also plunged, with Ether, the coin linked to the Ethereum blockchain network, plunging by more than 10%.
Figures from trading platform Coinglass…