The illustration picture taken at the La Maison du Bitcoin in Paris July 11, 2014 shows virtual currency coins in a picture taken from a virtual currency coin. LONDON, January 24, Reuters --Bitcoin tumbled nearly 9% on Monday to its lowest point in six months, as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their sell-off.
The largest criptocurrency was trading down 8.8% at $33,058, its lowest since July 23, taking losses from its all-time high of $69,000 hit in November past 50%.
The U.S. State Department ordered diplomats' family members to leave Ukraine on Sunday, one of the clearest signs that American officials are bracing for an aggressive Russian move in the region. Fears of conflict boosted the dollar and oil, while bolstering the dollar and oil.
Nerves over the U.S Federal Reserve's two-day meeting, starting on Tuesday, added to the mix, with the central bank expected to confirm that it will soon start draining the pool of liquidity that has supercharged growth stocks. Smaller cryptocurrencies, which tend to move in tandem with bitcoins, also slumped. The second-largest digital coin ether fell 13% to $2,202, its lowest since July 27. The fourth-biggest token issued by the eponymous coin, the Binance Coin, was down 12%.
Mark Elenowitz, President of Horizon, said thatBitcoin will face headwinds going up until the macroeconomic conditions change.
When rates are increased, we could see more sell-offs of seemingly risk-on assets likeBitcoin. U.S. listed criptocurrency miners RiotBlockchain RIOT.O Marathon Digital MARA.O and Bit Digital BTBTBT.O slumped between 7.3% and 12% in premarket trading while the Coinbase Global COIN.O dropped 7.8%.