{"id":33956,"date":"2023-08-27T13:56:56","date_gmt":"2023-08-27T13:56:56","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off"},"modified":"2023-08-27T14:08:19","modified_gmt":"2023-08-27T14:08:19","slug":"bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off","title":{"rendered":"Bitcoin drops to new two-month low as world markets sell off"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk averse sentiment swept through world markets.<\/p>\n

On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed. It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since June 16 .<\/p>\n

By 0835 GMT, it had partly recovered to $26,441, down 0.8% on the day. Global markets have been hit by a wave of selling, with Wall Street\u2019s main indexes closing lower on Thursday and Asian shares heading for a third week of losses over concerns about China\u2019s economy and fears that U.<\/p>\n

S. interest rates would stay higher for longer given a resilient economy. Ether, the second biggest cryptocurrency, was steady at $1,685.20 , having also dropped sharply on Thursday.<\/p>\n

Some analysts attributed crypto\u2019s drop to a Wall Street Journal report that Elon Musk\u2019s SpaceX sold its bitcoin holdings after writing the value down by $373 million.<\/p>\n

Musk is influential among crypto enthusiasts, and bitcoin prices have previously moved in response to his tweets. The SpaceX report was the \u201cimmediate catalyst\u201d for bitcoin\u2019s sell-off, said Ben Laidler, global markets strategist at eToro.<\/p>\n

\u201cThe broader driver is that crypto assets are not immune to the deepening risk-off selling pressure seen across all asset classes,\u201d Laidler added.<\/p>\n

Joseph Edwards, head of research at Enigma Securities, attributed the bitcoin price move to low volatility and a lack of enthusiasm from retail investors.<\/p>\n

Bitcoin had been hovering close to $30,000 in recent months, having gradually recovered this year after dropping sharply in 2022 when various crypto firms collapsed, leaving investors with large losses.<\/p>\n

Crypto markets were boosted in June by BlackRock applying to launch a spot bitcoin exchange-traded fund (ETF) in the United States. Some investors interpreted that move as an indication that the U. S. Securities and Exchange Commission would approve spot bitcoin ETF applications from various asset managers, including Grayscale.<\/p>\n

\u201cThe big concern right now is that this might be a frontrun on the outcome of Grayscale\u2019s lawsuit against the SEC; optimism on that front has been keeping markets inflated above whether they might otherwise be for much of the summer,\u201d Edwards said.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk averse sentiment swept through world markets. On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed. It then slipped to a two-month […]<\/p>\n","protected":false},"author":84,"featured_media":33955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,245,241],"class_list":["post-33956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nBitcoin drops to new two-month low as world markets sell off - Mauritius<\/title>\n<meta name=\"description\" content=\"Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin drops to new two-month low as world markets sell off\" \/>\n<meta property=\"og:description\" content=\"Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-27T13:56:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-27T14:08:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1693132647.784418.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Bitcoin drops to new two-month low as world markets sell off\",\"datePublished\":\"2023-08-27T13:56:56+00:00\",\"dateModified\":\"2023-08-27T14:08:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off\"},\"wordCount\":394,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1693132647.784418.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/bitcoin-drops-to-new-two-month-low-as-world-markets-sell-off\",\"name\":\"Bitcoin drops to new two-month low as world markets sell off - 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