Cryptocurrency prices are falling with the broader stock market due to rising concerns about COVID-19 outbreaks in China and across Asia.
Bitcoin, the largest cryptocurrency, was down more than 5% to $44,689 U.S. in London trading, reaching its lowest level in a week. Other digital assets also retreated, with Bitcoin Cash and Ethereum each declining sharply.
Ethereum was down more than 6% at just over $3,100 U.S. per digital coin.
Stock markets globally sank Monday (September 20) as investors weighed the risk of a coronavirus resurgence and that the U.S. Federal Reserve is about to pull back its monetary stimulus.
Bitcoin prices had been trending higher recently, with prices hitting a four-month peak above $50,000 earlier in September. Throughout the summer, the price of Bitcoin struggled to stay above $45,000 per digital token.
