Bitcoin and other cryptocurrencies slumped Monday as assets of all shapes and sizes were caught up in a wave of selling brought on by contagion fears from the mounting problems at embattled property giant China Evergrande Group.

Bitcoin, the world's largest cryptocurrency, dropped 6.63% to $44,979. It dropped to as low as $44,523 over the past 24 hours. Despite Monday's slump, Bitcoin has risen more than 55% so far in 2021.