[Singapore 11th Reuters]–Bitcoin, a crypto asset (virtual currency), plunged on the 11th of Asian time. While the dollar rose in response to the rise in US Treasury yields, it temporarily fell by more than 12% to the lowest level since January 6, at $ 33,447.
Ethereum, which is often linked to Bitcoin, also fell by 20% at one point, hitting a week-long low of $ 1007.51.
Gold has also fallen to a low for the first time in a month, but Bitcoin and other prices have fallen harder than that.
Chris Weston, head of research at Pepperstone (Melbourne), said the move reflected his view of the dollar.
Most recently, Bitcoin has picked up slightly to $ 35,192. It’s about 16% below last week’s high of $ 42,000.
– .
