The cryptocurrency bitcoin fell to its lowest value since July 2021 during May 9 trading amidst a fall in stock indexes as central banks around the world raised key interest rates.
After opening at about $34,000, bitcoin was trading at $32,152 as of 16:38 UTC (12:38 p.m. Eastern time). Compared to the 2022 peak of approximately $47,500 hit on March 29, bitcoin is trading lower by 33 percent. This is the lowest level since July 2021 and 53 percent lower than the all-time high of $69,000 hit in November 2021. Bitcoin has registered four consecutive daily declines and has lost 13 percent of its value in May 2022.
On May 9, the Financial Times Stock Exchange 100 Index in London fell about 1.5 percent, and Japan’s Nikkei Index declined by 2.5 percent. In the United States, Nasdaq and S&P 500 both fell by over 1 percent in opening trade.
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