Bitcoin slides to US$45,000 as traders pare back on risk
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[LONDON] Cryptocurrency prices slumped as a broad selloff sparked by worries about contagion from China Evergrande Group swept through global markets.
Bitcoin dropped 5.4 per cent to US$45,025 just before 10 am in London (just before 6pm Singapore time), reaching the lowest level in a week. Other digital assets also retreated, with Bitcoin Cash and Ether all declining.
Stock markets globally sank on Monday as investors weighed the risk of a spillover from Evergrande's debt woes, and this week's Federal Reserve meeting.
Bitcoin prices had been trending higher recently, with prices hitting a four-month high earlier this month.
BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
