AGL 6.70 Decreased By ▼ -0.04 (-0.59%)
ANL 9.35 Increased By ▲ 0.03 (0.32%)
AVN 80.63 Increased By ▲ 0.18 (0.22%)
BOP 5.45 Increased By ▲ 0.04 (0.74%)
CNERGY 5.03 Increased By ▲ 0.07 (1.41%)
EFERT 80.75 Increased By ▲ 0.84 (1.05%)
EPCL 56.86 Increased By ▲ 0.53 (0.94%)
FCCL 15.83 Decreased By ▼ -0.04 (-0.25%)
FFL 6.46 Increased By ▲ 0.11 (1.73%)
FLYNG 8.50 Increased By ▲ 0.20 (2.41%)
GGGL 10.40 Increased By ▲ 0.32 (3.17%)
GGL 16.60 Increased By ▲ 0.34 (2.09%)
GTECH 8.64 Increased By ▲ 0.16 (1.89%)
HUMNL 6.57 Increased By ▲ 0.18 (2.82%)
KEL 3.02 Increased By ▲ 0.04 (1.34%)
LOTCHEM 29.15 Increased By ▲ 0.26 (0.9%)
MLCF 29.12 Increased By ▲ 0.47 (1.64%)
OGDC 74.91 Increased By ▲ 0.41 (0.55%)
PAEL 16.30 Increased By ▲ 0.17 (1.05%)
PIBTL 5.65 No Change ▼ 0.00 (0%)
PRL 17.44 Increased By ▲ 0.46 (2.71%)
SILK 1.18 Decreased By ▼ -0.01 (-0.84%)
TELE 11.60 Increased By ▲ 0.15 (1.31%)
TPL 8.40 Increased By ▲ 0.40 (5%)
TPLP 22.35 Increased By ▲ 1.00 (4.68%)
TREET 23.76 Increased By ▲ 0.66 (2.86%)
TRG 147.20 Increased By ▲ 3.29 (2.29%)
UNITY 23.40 Increased By ▲ 0.39 (1.69%)
WAVES 11.62 Increased By ▲ 0.02 (0.17%)
WTL 1.53 Decreased By ▼ -0.04 (-2.55%)
BR100 4,206 Increased By 26.7 (0.64%)
BR30 16,398 Increased By 196.4 (1.21%)
KSE100 41,829 Increased By 218.1 (0.52%)
KSE30 15,724 Increased By 119.4 (0.77%)
Markets

Bitcoin tumbles to new 18-month low

  • World's largest cryptocurrency fell as much as 6.3% to $20,715.69
Published June 15, 2022
Follow us

LONDON: Bitcoin fell on Wednesday to a new 18-month low, dragging down smaller tokens with it, as the recent tumble in crypto markets showed no sign of letting up.

The world's largest cryptocurrency fell as much as 6.3% to $20,715.69, its lowest since December 2020.

Bitcoin has lost around 28% since Friday and more than half of its value this year.

Since its record high of $69,000 in November, it has slumped around 70%.

Bitcoin stems heavy losses but pessimism reigns in crypto markets

The token has tumbled after US crypto lender Celsius this week froze withdrawals and transfers between accounts, stoking fears of wider fall-out in digital asset market.

Expectations of sharper US Federal Reserve interest rate hikes to combat soaring inflation in the world's biggest economy have also heaped pressure on risky assets from cryptocurrencies to stocks.

Smaller cryptocurrencies, which tend to move in tandem with bitcoin, also fell.

Ether, the second largest token, fell as much as 9.4% to $1,090.

Comments

Comments are closed.