Cryptocurrency Bitcoin extended its decline over the weekend to approach the $40K level for the first time since late September.
According to Arab Net, these losses pushed Bitcoin to record declines since its peak three months ago, until it reached 42% of its value.
Ether also fell, the second largest cryptocurrency, amid signs that the Federal Reserve is preparing to combat persistent inflation by withdrawing stimulus.
The minutes of last month's Fed meeting, released on Wednesday, indicated the possibility of raising interest rates sooner than expected and reducing asset holdings.
These measures would remove liquidity from the market, which could weaken the luster of high-growth and speculative assets.
