Bitcoin fell Thursday after a report the U.S. Department of Justice opened a criminal investigation into whether traders are manipulating the price of cryptocurrencies.
The price of the largest digital currency by market capitalization dropped 3 percent to a low of $7,272, its lowest since April 12, according to CoinDesk’s bitcoin price index. Bitcoin fell below $8,000 on Wednesday and is now down more than 11 percent since Friday.
At 4 a.m. ET, Bloomberg reported, citing sources, the Justice Department is investigating whether traders are using illegal market moves to trick others into buying or selling cryptocurrencies.
The Commodity Futures Trading Commission is working with federal authorities in the probe, the report said, according to sources.
The Justice Department and CFTC did not immediately respond to a CNBC request for comment.
— CNBC’s Ryan Browne contributed to this report.
