Bitcoin price fell to its lowest level in 16 months on Thursday,

driven by concentrated sales of digital assets.

Other major cryptocurrencies continued to fall 

alongside more risky assets like tech stocks,

and this week suffered the collapse of the so-called stablecoin TeraUSD,

which lost its dollar peg.The world's largest cryptocurrency is down nearly 12% to $27,194.41,

while BTC is down nearly 11% due to selling pressure.

it was down more than 14% in pre-market trading.