The day's losses have been fueled by growing — and now confirmed — concerns that Binance would back out of the deal.
Bitcoin fell as low as $16,027, according to TradingView data. At 4:20 p.m. ET, bitcoin was trading hands at $16,120.
BTCUSD Chart by TradingView
The price of Solana, down more than 45% in the past day, fell to $12.82 as of 4:20 p.m. ET.
Other major crypto assets, including BNB and DOGE, have fallen sharply amid the events of the past day, according to CoinGecko data.