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Bitcoin drops 5% to its lowest level in 3 months as risk assets continue to get crushed - CtrlF.XYZ

Bitcoin drops 5% to its lowest level in 3 months as risk assets continue to get crushed

2 years ago 136

Ether has hugely outperformed bitcoin since some cryptocurrencies formed a bottommost successful June 2022. Ether's superior gains person travel arsenic investors expect a large upgrade to the ethereum blockchain called "the merge."

Yuriko Nakao | Getty Images

Bitcoin fell to its lowest level successful 3 months connected Monday arsenic investors dumped hazard assets amid expectations of higher involvement rates.

The world's largest cryptocurrency dropped 5% to an intraday debased of $18,276, reaching its lowest level since June 19. Bitcoin is down 7.2% this period and connected gait for the 2nd consecutive antagonistic period aft plunging 15% successful August.

Ether is down a akin 5% to $1,281 apiece Monday, hitting its lowest level since July 15. Ether is down 17% this month, connected way to station its worst period since June.

Risk assets person been nether monolithic unit arsenic the Federal Reserve is expected to instrumentality to its assertive tightening schedule. The cardinal slope is wide expected to o.k. this week a 3rd consecutive 0.75 percent constituent involvement complaint increase that would instrumentality benchmark rates up to a scope of 3%-3.25%.

-CNBC's Gina Francolla contributed to this report.

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