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Bitcoin fell 16% overnight on Saturday, as investors took risky bets amid the cryptocurrency’s broader decline as financial markets were unsettled by the spread of the Omicron coronavirus pandemic.

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Bitcoin, the number 1 cryptocurrency by market cap, was trading at $47,558.47 as of 9:30 a.m. Saturday, down 16% from the day before. coingeco,

It had fallen as much as 20% before making up for some of its losses.

As of Saturday morning, Ether, the second largest digital token, was down 13.1%; Binance Coin, the third largest token, was down 11%; Solana, the fifth largest token, declined 17.2%, according to coingeco,

Meme coins Dogecoin and Shiba Inu coin were shed more than a fifth according to their market value, wall street journal,

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