According to Mehr News Agency, Bitcoin followed a sharp decline in global financial markets as investors continued to risk-off amid geopolitical tensions, falling to its lowest level in more than a week.
According to Bloomberg, along with the decline in stock markets, long-term US Treasury bonds and Japanese bonds, the world's largest cryptocurrency fell below $90,000 for the first time since January 9. After falling 4% on Tuesday, Bitcoin continued its downward trend in Asia on Wednesday morning, and by 9:27 a.m. in Singapore, it was down 0.5% to $88,894.
Smaller, less liquid tokens fell more, with Ethereum down more than 7% and Solana down 5.3%. Shares of cryptocurrency-related companies also fell. Coinbase Global fell 5.6%, while Strategy fell nearly 8%.
Cryptocurrency investors have poured about $1.2 billion into dozens of U.S.-registered Bitcoin ETFs so far this year, initially helping to boost the cryptocurrency's price after it crashed last year.
