Bitcoin Price Falls Below $ 30,000 As Delta Variant Fears Spread Around The World
Bitcoin was last trading at around $ 29,800 per coin on Tuesday, its lowest level since last month.
“Bitcoin is the ultimate risky asset right now and it could see intense selling pressure if Wall Street enters panic sell mode,” wrote Edward Moya, senior market analyst for the Americas in Oanda, in a statement. Monday’s research note.
The latest drop came as investors worried about the impact of the Delta variant on reopening the global economy. Shares of airlines, cruise lines and energy stocks all plunged in the United States on Monday. Long-term bond yields have also continued to fall, a sign that fixed income investors are now far more worried about an economic slowdown induced by the Delta variant than about rising inflation fears.
US equity futures also edged up. Dow futures rose about 0.7% for the last time, while S&P 500 and Nasdaq futures rose about 0.6% and 0.5%, respectively.
– Paul R. La Monica and Robert North contributed to this report.