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Bitcoin and cryptocurrency prices have fallen sharply over the last 24 hours, with the bitcoin price crashing under $60,000 per bitcoin.
Other major cryptocurrencies, including ethereum, Binance's BNB, solana, cardano and Ripple's XRP, have also fallen back—all losing between 7% and 10% of their value.
The sudden crypto price crash has wiped around $400 billion from the combined crypto market, which last week touched a record high of around $3 trillion.
The sudden crypto price move lower comes after bitcoin saw its first major upgrade in four years over the weekend. The bitcoin price had climbed in the run-up to the long-awaited upgrade and had come within touching distance of $70,000 per bitcoin last week for the first time.