Why Is Bitcoin Falling? Price Dropped Below 41 Thousand Dollars!

After the price of Bitcoin (BTC) fell sharply from the levels where it was traded on Saturday and Sunday, all eyes turned to the reason.
Bitcoin price dropped sharply from $41,800 at the weekend to $40,700 at the close of the day. While Bitcoin lost nearly 3% in value during this period, similar declines were experienced in the entire cryptocurrency market. Ethereum lost more than 3% in value during this period, falling from $ 2,481 to $ 2,405.
After this sharp decline, all eyes turned to its cause. The reason for the decline is that Terraform Labs, which caused a huge blow to the cryptocurrency market last year, officially filed for bankruptcy in the US state of Delaware.
The total value of the company's assets and liabilities, which is behind cryptocurrencies such as Terra (LUNA) and Terra USD (UST), is between 100 and 500 million dollars. According to CoinGecko data, Bitcoin (BTC) is trading at $41,090 at the time of writing.