The bitcoin It was this Monday morning minimum since July 2021as the stock market crash continued to hurt cryptocurrencies, which currently trade in line with risky assets like tech stocks.
Shortly before 11:00 GMT, bitcoin dipped as low as $32,763.16, marking its fifth straight session of declines.
The cryptocurrency is down 13% so far in May and has lost more than half its value since reaching an all-time high of $69,000 in November of last year.
I think everything within crypto continues to be classified as a risk asset, and similar to what we’ve seen with the Nasdaq, most crypto is getting hit,” said Matt Dibb, chief operating officer of the platform. cryptocurrencies Stack Funds, in Singapore.
The nasdaqThe tech heavyweight fell 1.5% last week and has lost 22% so far this year, hurt by the prospect of persistent inflation forcing the Federal Reserve to raise interest rates despite the slowdown. of growth.
Nasdaq futures fell 2.3% on Monday.
The etherthe world’s second largest cryptocurrency, which underpins the Ethereum network, fell as low as $2,360 on Monday, its lowest since late February.