Bitcoin falls 5.84% to $43,418

(Reuters) – Bitcoin fell 5.84% to $ 43,418.02 on Sunday, down $ 2,691.96 from the previous closing price.

Bitcoin, the world’s largest and best-known cryptocurrency, is down 25.6% from its annual high of $ 58,354.14 on February 21.

Bitcoin’s price soared this year as big companies like BNY Mellon, wealth manager BlackRock Inc, and credit card giant Mastercard Inc backed cryptocurrencies while others like Tesla Inc Square Inc and MicroStrategy Inc invested in Bitcoin.

Ether, the coin connected to the Ethereum blockchain network, fell 9.59% to $ 1,319.12 on Sunday, down $ 139.91 from its previous closing price.

(Reporting by Sabahatjahan Contractor in Bengaluru; editing by Daniel Wallis)

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