Bitcoin slumps to a three-month low as cryptocurrencies extend losses

[superadmin]

• The price of bitcoin fell below the $41,000 mark on Friday, reaching its lowest level since Sept. 29, according to data from Coin Metrics.
  
• Hawkish comments from the Federal Reserve this week triggered a sell-off in global stock markets which spilled over into cryptocurrencies.
  
• An internet shutdown in Kazakhstan, the world’s second-largest bitcoin mining hub, is also weighing on crypto prices.
  

Bitcoin dropped to a three-month low late Friday amid jitters over U.S. monetary policy tightening and an internet shutdown in Kazakhstan, the world’s second-biggest bitcoin mining hub.

The price of bitcoin fell below the $41,000 mark to $40,749.90 just after 10:50 a.m. ET Friday, reaching its lowest level since Sept. 29, according to data from Coin Metrics. It was last trading down 2.9% at a price of $41,947.75.

The world’s largest cryptocurrency began falling earlier this week after the minutes from the Federal Reserve’s December meeting hinted the U.S. central bank would dial back its pandemic-era stimulus.

- More -