briefly dropped as much as 8% on Friday, dipping back below $20,000 to near a two-month low, following turmoil from the collapse of Silvergate Bank earlier this week.
The volatility wiped more than $70 billion off the collective valuation of the cryptocurrency market in less than 24 hours, according to .
Silvergate, which was a key banking partner for crypto businesses, on Wednesday announced plans to voluntarily liquidate, as the aftermath of 's implosion last year reverberates through the industry.
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