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Bitcoin sees lowest level in five months as prices dip below US$40,000

Bloomberg
Bloomberg1/21/2022 03:04 PM GMT+08  • 2 min read
Bitcoin sees lowest level in five months as prices dip below US$40,000
Second-ranked Ether slid below US$3,000.
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Cryptocurrencies sank Friday, taking Bitcoin to the lowest level in more than five months as risk aversion again swept across global markets.

The largest cryptocurrency dropped as much as 7.4% to US$38,261 ($51,502.70), while second-ranked Ether slid below US$3,000. Digital tokens overall have shed some US$1 trillion in value since a November peak.

“Bitcoin and the broader crypto market remain subject to the whims of macro variables,” Fundstrat Digital Asset Research strategists Sean Farrell and Will McEvoy wrote in a note.

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