Bitcoin price slides to three-month low of $34,000 with crypto casualties

Image: Bitcoin slides with crypto casualties. Credit: Creative Commons/sergeitokmakov

The latest economic data from China has heightened fears over its zero-Covid lockdown policies as bitcoin heavily dented.

China, which imposed factory shutdowns and suffered port disruption, contributed to exports growth slowing to 3.9 per cent,  from the 14.7 per cent increase in March, The Evening Standard reported on Monday, May 9.

This has caused a major blow to holders of cryptocurrencies after the Bitcoin price fell to a three-month low at less than $34,000.

Commodity prices have also weakened, causing four per cent falls for iron ore-exposed shares in Anglo American and Rio Tinto and Chilean copper miner Antofagasta.

These drops meant the FTSE 100 lost 0.9m per cent or 67.25 points to 7320.69, with tech companies again in the firing line after last week’s US interest rate rise worries.


Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

 

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Fergal MacErlean

Originally from Dublin, Fergal is based on the eastern Costa del Sol and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

Comments


    Leave a comment

    Your email address will not be published. Required fields are marked *