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Bitcoin Falls
To 6-Week
Low

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Bitcoin falls to a six-week low as the risk-off mood gathers momentum.

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The largest cryptocurrency slid as much as 3.3% to $38,223, the lowest since March 15, and down more than 20% from last month’s high.

The second-biggest coin, Ether, slumped as much as 4.8% to $2,799, a level not seen since March 18.

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Bitcoin extended this month’s losses in Monday trade as investors shied away from risk assets amid a more hawkish outlook for Federal Reserve policy tightening.

The largest cryptocurrency slid as much as 3.3% to $38,223, the lowest since March 15, and down more than 20% from last month’s high.

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The second-biggest coin, Ether, slumped as much as 4.8% to $2,799, a level not seen since March 18.

Price charts are signaling further declines are likely, technical analysts say.

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Bitcoin has dropped below its Ichimoku cloud support on a weekly chart, with secondary support only coming in around $27,200, said Katie Stockton.

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