Weekend murmurings of US crypto regulation were cited as a factor for the price plunge (alongside other explanations that were offered up).
ForexLive covered these on Sunday and Monday,
- Black Sunday for crypto as bitcoin and others plunge
- Bitcoin weekend price drop - biggest in nearly 2 months
- Bitcoin weekend price drop, explanation #2 (or is it #3?) is the China power blackout
Fox now adding further, citing unidentified sources as saying that SEC chair Gary Gensler is waiting for direction from the Treasury over cryptocurrency regulations.
BTC update, weaker but off its weekend lows: