Bitcoin’s price is now 50% down from its peak as the crypto plunge continues

The fall isn't exclusive to Bitcoin. Ethereum, the second-largest crypto, also fell by 5% from the start of the weekend to $2,440.

Since Friday, Bitcoin has broken below its three-month rising trend line, falling out of the $35,000 to $46,000 range it has bounced between in the first few months of 2022. Analysts are now indicating the fall in prices could be the start of a new market trend, as Bitcoin's valuation approaches the lowest level it has seen since July 2021.

Edul Patel, chief executive officer of Mudrex, an algorithm-based crypto investment platform, told Bloomberg, “The downward trend is likely to continue for the next few days,” he said, noting Bitcoin could test the $30,000 level.