Bitcoin (BTC) falls toward $20,000 as crypto meltdown continues

Bitcoin fell during Monday's trading as fears grew that more platforms would stop trading and hedge funds would be hit in light of the cryptocurrency market crash.

On Friday, Voyager Digital announced the temporary suspension of trading, withdrawals and deposits on the platform amid the witnessed collapse in the cryptocurrency market.

Meanwhile, cryptocurrency hedge fund Three Arrows Capital has filed for bankruptcy in a New York court, in a move aimed at protecting the company's US assets from creditors during its liquidation in the British Virgin Islands.

At exactly 10:53 AM UAE time, bitcoin fell by 2.03% to $ 19,102.75, according to Coinbase data.

The second largest cryptocurrency by market capitalization, Ethereum, fell 1.82% to $1,049.64, and Ripple fell to 32 cents.

The global cryptocurrency market cap has fallen over the past 24 hours to $864.50 billion, according to CoinMarketCap data.