Bitcoin's worst-ever yearly start to performance as it has lost 14% this year

After falling below $40,000 for the first time since last September, bitcoin has fallen a cumulative 14% this year, marking its worst-ever yearly start to performance.

At one point during Monday's U.S. trading session, bitcoin fell 6%, briefly dropping below the $40,000 mark. On a full-year basis, bitcoin has fallen 14% for the year, its worst annual start performance since 2012.

"A start like this in 2022 is shocking." Fiona Cincotta, senior financial markets analyst at City Index, said, "There's a lot going on, although we know bitcoin is unstable."