News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Bitcoin falls again, last down 4%

01/22/2022 | 05:46pm EDT
FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin

Jan 22 (Reuters) - Bitcoin dropped again on Saturday and was last down around 4% for the day, hovering around the $35,000 level.

Bitcoin, the world's biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It was last at $35,049, after falling as low as $34,000 and following a steep fall on Friday.

The currency has had wild price swings and has been hit as risk appetite has fallen on inflation fears and anticipation of a more aggressive pace of interest rate hikes from the U.S. Federal Reserve.

Other risk assets have fallen with stocks falling on Friday. The S&P 500 and Nasdaq recorded their biggest weekly percentage drops since the start of the pandemic in March 2020.

In a research note on Friday, Edward Moya, senior market analyst for the Americas at OANDA, said bitcoin was falling as "crypto traders de-risk portfolios following the bloodbath in stocks" and in advance of next week's Federal Reserve policy meeting.

"Bitcoin remains in the danger zone and if $37,000 breaks, there is not much support until the $30,000 level," Moya wrote on Friday.

Ether, the coin linked to the ethereum blockchain network, dropped 6.7% to $2,396 on Saturday. (Reporting by Rhea Binoy in Bengaluru and Megan Davies in New York; Editing by Cynthia Osterman)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN (BTC/EUR) -5.00% 28593.1 End-of-day quote.-31.97%
BITCOIN (BTC/USD) -4.70% 29826.5 End-of-day quote.-37.52%
ETHEREUM (ETH/BTC) -1.12% 0.0677 End-of-day quote.-14.17%
ETHEREUM (ETH/EUR) -6.07% 1936.33 End-of-day quote.-41.61%
ETHEREUM (ETH/USD) -5.75% 2019.86 End-of-day quote.-46.38%
Latest news "Economy & Forex"
06:48aS.AFRICAN RETAILER PICK N PAY TO CUT OVER $186 MILLION IN COSTS IN 3 YEARS : Ceo
RE
06:48aFrance's Engie to pay Russia's Gazprom in euros this month
RE
06:47aPennsylvania, North Carolina midterm primaries latest test of Trump's sway
RE
06:47aShopee-owner Sea tops revenue estimates on e-commerce strength
RE
06:46aRussia says fertiliser producers want to ship potash
RE
06:45aGold firms in narrow range as dollar backs off highs
RE
06:45aInvestors rush to cash as growth optimism hits record low - BofA
RE
06:44aEU won't relax green goals because of Ukraine war - Dombrovskis
RE
06:43aIndia's Bharti Airtel beats quarterly profit estimates on tariff hike
RE
06:42aHezbollah and allies lose majority in Lebanese parliament, final results show
RE
Latest news "Economy & Forex"