Bitcoin loses $21k support and sheds 5% in 24H trading

Bitcoin has lost crucial support at the $21,000 level as market volatility has continued after the collapse of Silvergate.

On Thursday, the prices of cryptocurrencies experienced a decline following the announcement by Silvergate, a prominent bank in the industry, of its decision to close down. Coin Metrics reported that Bitcoin fell by 6% to a sub $21,000 support for the first time since January 17.