Bitcoin drops to $65,000, hitting 4-week low

Bitcoin's price plummeted to $65,000 on Friday, marking its lowest level in four weeks.

The world's largest cryptocurrency dropped to as low as $65,090 around 2:20 pm EDT. By 3:53 pm EDT, it was trading at $65,423, for a daily loss of 1.8%.

Bitcoin last saw its price drop to as low as $65,115 on May 17.

Ethereum also experienced a decline, falling 2.4% to $3,402. Meanwhile, some altcoins saw their prices drop by nearly 10% for the day.

The total value of the cryptocurrency market stood at $2.36 trillion with a 2.7% daily loss, while Bitcoin's share, known as dominance, was at 54.5%. Ethereum's was at 17.2%, according to CoinMarketCap.