Bitcoin falls to 22-month low as stock markets tumble

Published by
Reuters UK

By Alun John and Elizabeth Howcroft HONG KONG / LONDON (Reuters) -Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks. Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT, in its fifth consecutive session of falling. The cryptocurrency has dropped 13% so far in May and has lost more than half its value since it hit an all-time high of $69,000 in November last year. “I think everything within crypto is still classed as a risk asset,…

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