Bitcoin fell sharply Wednesday, touching lows against the dollar not seen since May.
The drop comes after a stable July for the cryptocurrency, and a strong run that has seen bitcoin hold above $560 since May 26. The slide began on Monday—the same day the Consumer Financial Protection Bureau announced new warnings about the digital currency—and accelerated Wednesday morning, according to pricing data from CoinDesk.
According to CoinDesk, the currency has only once finished the day on more than a 5 percent change since May: Bitcoin rose almost 7 percent on June 30. Its last drop of over 5 percent was on June 12.
At its lows on Wednesday, CoinDesk's price index had fallen more than 6 percent on the day.