Bitcoin fell to lowest level in two months, amid selling in global ‎markets

Bitcoin, the largest cryptocurrency, fell to a two-month low on Friday and broke out of its recent narrow range as a wave of risk aversion dominated global market sentiment.

According to “Reuters”, Bitcoin fell 7.2% on Thursday, its largest one-day decline since November 2022, when the FTX platform for digital currency trading collapsed.

It then fell to a two-month low of $26,172 during Asian trading hours on Friday, the lowest since June 16. It partially recovered to $26,478 by 0713 GMT.

Global markets were subjected to a wave of selling, with the main indices on Wall Street closing lower Thursday and Asian stocks heading for losses for the third week due to concerns about the Chinese economy and concern that US interest rates will remain high for a longer period due to the strength of the economy.

Ether, the second largest cryptocurrency, settled at $1,690.20 after falling sharply on Thursday as well.