Insignia Consultants | Bitcoin drops to new two-month low as world markets sell off
Bitcoin drops to new two-month low as world markets sell off
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LONDON, Aug 18 (Reuters) - Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk averse sentiment swept through 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 . By 0835 GMT, it had partly recovered to $26,441, down 0.8% on the day.
