CIO seeing 'air come out of crypto' as Fed hikes rates

STORY: Bitcoin hit a new 18-month low this week, as major crypto lender Celsius Network's freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class.

The world's largest cryptocurrency has shed about half its value this year and over 20% since Friday alone. Since its record high of $69,000 in November, it has slumped nearly 70%.