Bitcoin dropped the most since January as the rout in financial markets deepened in the wake of increasing concern of recession.
Bitcoin slumped 3.8% trading at $34,508.96 in the early hours today, raising concern that the slide risks pushing the largest cryptocurrency out of the range it has traded within much of the year.
Additionally, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also plunged 4.8% to $2,545.29.
Meanwhile, earlier this week on Friday, Bitcoin fell about 1% to $36,077, touching the lowest level since February and closed down around 6.3% since last Friday.