Bitcoin price falls by 17.5% in biggest monthly loss since 2022
(www.theguardian.com)
from geneva_convenience@lemmy.ml to technology@lemmy.ml on 02 Mar 12:51
https://lemmy.ml/post/26641714
from geneva_convenience@lemmy.ml to technology@lemmy.ml on 02 Mar 12:51
https://lemmy.ml/post/26641714
Bitcoin has recorded its largest monthly loss since June 2022, pushing it into a bear market as the euphoria over cryptocurrencies after Donald Trump’s election win faded.
The price of bitcoin fell by 17.5% in February, the biggest monthly drop since June 2022, and its eleventh worst month in the last decade, as risk-off sentiment gripped financial markets.
The world’s largest crypto asset ended February at about $84,252 (£67,010), having hit a three-month low of about $78,273 during trading on Friday.
Bitcoin has now dropped more than 20% below the record high of $109,071 set in mid-January, which puts it into a technical bear market.
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