Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard. (Photo by Reuters)
The selloff in cryptocurrencies gained new momentum on Monday, with Bitcoin tumbling to a six-month low and other tokens seeing big losses.
Bitcoin sank 4.3% and fell below the US$34,000 mark, continuing a six-day downturn. Ether retreated 6.8% and touched $2,201, the lowest since July.
Across the crypto spectrum, markets were in a sea of red with Solana’s SOL and Cardano’s ADA plummeting 19% and 13%, respectively, according to data compiled by CoinGecko.
Crypto has come under widespread selling pressure in recent days, with traders pointing to hawkish signals from the Federal Reserve and a selloff in technology shares as reasons for traders to withdraw from risky…
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