Bitcoin has sunk to its lowest level since January as the stock market decline continues to negatively affect cryptocurrencies, whose trading follows so-called riskier assets such as stocks of technology companies.
The value of bitcoin dropped to 33,266 dollars on yesterday morning’s trading in Asia, approaching the lowest level since January, when it was only 32,951 dollars.
A fall below that level would be the lowest value since July last year.
According to the latest available data from the crypto market, bitcoin has currently recovered slightly and is trading at around $ 33,500, or down 1.4 percent on a daily basis, Tanjug reported.
On the New York Stock Exchange, the Nasdaq technology index closed 1.5 percent down last week, and has lost 22 percent of its value since the beginning of the year due to expectations that persistently high inflation will force US Federal Reserve to raise reference rates despite slowing economic growth.
Nasdaq futures continued its downward trend in Asian trading this morning, falling an additional 0.8 percent.
Ether, the second largest cryptocurrency in the world, fell to $2,421 today, the lowest level since the end of February.