- The Wall Street Journal – Bitcoin Price Falls Below $35,000 in Tandem With Stock Selloff
The widespread adoption of cryptocurrencies might make them more sensitive to the stock market’s moves
It is becoming a more common occurrence: When stocks fall, so does bitcoin. Bitcoin, the world’s largest cryptocurrency by market value, fell below $37,000 Friday to its lowest dollar value since August 2021, according to CoinDesk. The selloff continued into the weekend, with Bitcoin falling to below $35,000 on Saturday before edging back above that level as of Sunday afternoon. Bitcoin has nearly halved its record price from the fall. The drop came fast on the heels of a late-afternoon swoon in the stock market on Thursday.