Bitcoin drops below $17,800 as sell-off accelerates — here’s what happened

Bitcoin plunged to $17,749 and ether fell to $897, as of about 4:15 E.T. on Saturday afternoon, as the sell-off in the crypto market accelerates. The world’s two most popular cryptocurrencies are down more than 35% in the past week, as both breach symbolic price barriers.

Bitcoin peaked at $68,789.63 in November and it last traded this low around November 2020.

The carnage in the crypto market is partly caused by pressure from macroeconomic…