Bitcoin falls over 6% to lowest in two weeks
The world's biggest cryptocurrency slumped as low as $44,451 before recovering some of its losses. It was last trading down 1.3 per cent at $46,588.
By Reuters | Updated:
Reuters
By Ritvik Carvalho
LONDON: Bitcoin fell as much as 6 per cent on Friday to its lowest in two weeks, as a rout in global bond markets sent yields flying and sparked a sell-off in riskier assets.
The world's biggest cryptocurrency slumped as low as $44,451 before recovering some of its losses. It was last trading down 1.3 per cent at $46,588.
The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5 per cent, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.
Bitcoin has risen about 60 per cent from the start of the year, hitting an all-time high of $58,354 this month as mainstream companies such as Tesla Inc and Mastercard Inc embraced cryptocurrencies.
LONDON: Bitcoin fell as much as 6 per cent on Friday to its lowest in two weeks, as a rout in global bond markets sent yields flying and sparked a sell-off in riskier assets.
The world's biggest cryptocurrency slumped as low as $44,451 before recovering some of its losses. It was last trading down 1.3 per cent at $46,588.
The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5 per cent, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.
Bitcoin has risen about 60 per cent from the start of the year, hitting an all-time high of $58,354 this month as mainstream companies such as Tesla Inc and Mastercard Inc embraced cryptocurrencies.
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