Bitcoin Hits 2-Month Low on Fresh Selloff

Date:

Share:

Bitcoin Hits 2-Month Low on Fresh Selloff

Bitcoin Hits 2-Month Low on Fresh Selloff

After keeping an uptrend for months, Bitcoin slumped on Friday amidst uncertainties across global markets. Top cryptocurrency bitcoin hit a fresh two-month low, breaking out of its recent tight range.

The price depreciation followed a wave of risk-off sentiment that gripped retail investors and world markets. On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed.

It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since June 16, it had partly recovered to $26,478, down 0.6% on the day.

Ether, the second biggest cryptocurrency, was steady at $1,690.20, having also dropped sharply on Thursday. Bitcoin had been hovering close to $30,000 in recent months. It was lifted in June by BlackRock applying to launch a spot bitcoin exchange-traded fund (ETF) in the United States.

Yesterday, Bitcoin dropped 7.2% to $26,634, losing $2,067 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 16.3% from the year’s high of $31,818 on July 13.

Nigerian Treasury Bills Yield Rises to 7%

Subscribe to our magazine

━ more like this

Prophet Ikuru Urges President Tinubu to Address IPOB Leadership Issue

In a significant statement, Prophet Godwin Ikuru of the Jehovah Eye Salvation Ministry has called on President Bola Ahmed Tinubu to address the issue...

AFCON 2023 Countdown: Cote d’Ivoire may turn back some Nigerians over travel passports

BY KUNLE SOLAJA. Nigerians holding the ECOWAS Travel Certificates and going for the Africa Cup of Nations next month are certain...

Namibia trainer Benjamin names list of 28 players

Namibia will make its fourth African Cup of Nations appearance Coach Collin Benjamin has called up 28 players The Brave Warriors...

Guinea coach Diawara names 25-man squad for AFCON

Guinea will be making its 13th  African Cup of Nations appearance Coach Kaba Diawara has called up 25 players Syli National...

Mozambique coach Conde announces 23-man squad

Mozambique will make their fifth  African Cup of Nations appearance Coach Chiquinho Condé has called up 23 players The Mambas placed...
spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here