According to data from analysis company Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, decreased by about 4.91 percent in 24 hours to $ 1 trillion 520 billion.

The price of Bitcoin, the largest cryptocurrency, fell 4.85 percent in the last 24 hours, falling below $39,000 for the first time since last December.

Bitcoin had been on the rise in anticipation that the US Securities and Exchange Commission (SEC) would open the cryptocurrency to new investors by approving the Bitcoin spot ETF (exchange-traded funds).

Bitcoin has gained nearly 70 percent since August 2023.

On January 10, the SEC approved exchange-traded funds that directly track the price of Bitcoin. This facilitated the entry of institutional and private investors into the crypto market.

After this approval, the correction in the Bitcoin price exceeded 20 percent. Ethereum, which ranks second in terms of market capitalization, has gained more than 6 percent in the last 24 hours, reaching the level of 2,210 dollars.