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Al-Marsad Journal – Reuters: Bitcoin fell more than 19% to a week-long low on Monday, putting the cryptocurrency on track for its biggest single-day drop since March.
Bitcoin fell to $ 30,699, its lowest level since Jan.5, before falling back to $ 32,885 at 15.35 GMT, but remains down more than 16% throughout the day.
If this continues, it will be the biggest drop throughout the day since the Covid-19 pandemic caused chaos in financial markets last March.
The decline of the world’s largest cryptocurrency came with the rise of the dollar against other major fiat currencies, coinciding with the possibility of rising U.S. interest rates.
Ethereum, the second largest cryptocurrency that often moves alongside Bitcoin, slipped 23% to $ 985, its lowest level in a week.
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