Bitcoin Slump Triggers Warning of ‘Trouble Ahead’ for Global Markets
- The largest digital asset is trading around a two-month low
- ByteTree’s Morris says Bitcoin is a ‘canary in the coal mine’
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Bitcoin’s tumble is piquing the interest of investors who view pronounced swings in the digital token as a possible precursor for broader changes in risk appetite in global markets.
The cryptocurrency has shed about 4% in the past two days following a near 16% plunge in April, the worst monthly drop since Sam Bankman-Fried’s FTX digital-asset empire imploded in November 2022. The token changed hands at $57,462 as of 7:24 a.m. Thursday in London, around a two-month low.