Bitcoin Drops Below $8K Amid Crypto Market Sell-Off

The price of bitcoin is down to start the day, dropping below $8,000 during early-hours trading on Thursday according to CoinDesk’s Bitcoin Price Index (BPI).

At press time, the price of bitcoin is roughly $7,811.22 across global exchanges, a figure that represents a decline of over $300 from the day’s open, and the lowest price observed on the index since Feb. 11, when the BPI hit a low of $7,845.13.

The market development highlights the continued market weakness seen this week, as evidenced by bitcoin’s slide toward $8,000 over the course of Wednesday’s session.

Still, other major cryptocurrencies are also seeing losses as well, including ethereum and its ether token, which slid below $600 for the first time since mid-February. According to CoinDesk data, the price of ether is trading at $588.32, a decline of about 4 percent since the open…

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