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Bitcoin drops under December lows
Bitcoin slumped to the lowest level since its December flash crash as growing expectations of rising borrowing rates weighs on some of the best-performing assets over the past few years.
The largest cryptocurrency by market value dropped to as low as $42,505 in early Asia trading Thursday.
That pushed the price to the lowest since it touched $42,296 during a weekend crash at the start of last month.
Bitcoin has surged by about 500% since the end of 2019 in the wake of stimulus measures put in place during the Covid-19 pandemic.
[Bloomberg]
Bitcoin slumped to the lowest level since its December flash crash as growing expectations of rising borrowing rates weighs on some of the best-performing assets over the past few years.
The largest cryptocurrency by market value dropped to as low as $42,505 in early Asia trading Thursday.
That pushed the price to the lowest since it touched $42,296 during a weekend crash at the start of last month.
Bitcoin has surged by about 500% since the end of 2019 in the wake of stimulus measures put in place during the Covid-19 pandemic.
[Bloomberg]