Refinitiv Newscasts - Bitcoin slides as investors fret over rates
19/09/2022 11:44
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_0twzd60a&referenceId=tag:reuters.com,2022:newsml_OV637119092022RP1_930&pageId=RefinitivNewscasts Source: Reuters Description: Cryptocurrencies fell to fresh lows on Monday on regulatory concerns and as investors globally turned shy on risky assets with interest rate rises looming around the world. Francis Maguire reports. Short Link: https://refini.tv/3LqD4WT Video Transcript: Cryptocurrencies fell to fresh lows on Monday. The largest token of all, Bitcoin, fell about 5% to a three-month low of just under $18,400. Ether dropped 3% to a two-month low. It's down more than 10% over the last 24 hours. Most smaller tokens were also deeper in the red. Ether's drop-off comes just days after the Ethereum blockchain, which underpins the token, had a major upgrade called 'The Merge'. It has changed the way transactions are processed and cut energy use. But investors have turned shy on Ether after comments by U.S. regulators last week. U.S. Securities and Exchange Commission Chairman Gary Gensler seemed to imply the new structure to its blockchain could lead to extra regulation. Cryptocurrencies have fallen from previous highs in recent months. That as investors turn away from riskier assets due to interest rate rises around the world