Bitcoin extended its decline on Tuesday, putting the token on course for its steepest monthly drop since the industry suffered a slew of corporate collapses in 2022.

The original cryptocurrency fell as much as 2.64% to $62,858, and was still hovering around $63,000 at 8 a.m. in London. It’s now down more than 19% in February, set for its worst monthly performance since June 2022. That year, the implosion of TerraUSD, a stablecoin project, triggered a daisy chain of failures that included crypto hedge fund Three Arrows Capital and BlockFi, the lender.