Cryptocurrencies
Sliding Bitcoin Struggling to Harness Rebound in Global Risk Appetite
- The largest digital asset is down about 9% so far this month
- Stocks in contrast shook off ructions sparked by growth fears
Signage for Bitcoin cryptocurrency in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Bitcoin and the wider crypto market are nursing sharp losses for the month so far even as global stocks push back toward record highs after shaking off a growth scare over the US economy.
The largest digital asset has fallen about 9% in August, lagging a gain of almost 1% in MSCI Inc.’s world share index as well as a jump in gold to all-time highs. A Bloomberg global bond gauge has added nearly 2% over the same period.