Register now to get free unlimited access to Reuters.com
June 18 (Reuters) – Bitcoin plunged below $20,000 on Saturday to an 18-month low, extending its slide as investors retreated from riskier assets amid rising interest rates.
The largest cryptocurrency fell 7.1% to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest level since December 2020.
It has fallen by about 59% this year, while rival cryptocurrency Ethereum backed ether is down 73%.
The cryptocurrency sector took a hit this week after crypto lender Celsius froze withdrawals and transfers between accounts. Read more
The sector also suffered losses after companies such as Coinbase Global Inc (COIN.O)Gemini and Blockfi said they would lay off thousands of employees as investors dump risky assets.
Register now to get free unlimited access to Reuters.com
Additional reporting by Janavi Nidomulu in Bengaluru; Editing by Andrew Heavens
Our criteria: Thomson Reuters Trust Principles.
“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”
More Stories
Oil and gold prices rise as the United States announces that Israel has struck Iran
TSMC shares fell nearly 7% in Taipei on global chip outlook concerns
Blueberries and Bell Peppers: Six Fruits and Vegetables with the Greatest Pesticide Risk | Insecticides