Losses in cryptocurrency markets extended on Friday, with bitcoin falling to multi-week lows in the process. Ethereum was also lower during the session, whilst the global crypto market cap was down 3.70% as of writing.
Bitcoin
Bitcoin was down for a third consecutive session, as recent bearish pressure continued to intensify on the world’s largest cryptocurrency.
Following a high of $43,327.99 on Thursday, BTC/USD fell below $40,000 during today’s session, and is down nearly 7% as of writing.
The move saw BTC hit an intraday low of $39,633 (as of writing), sending prices below its recent support of $41,765.
This drop in price comes as market uncertainty continues to heighten, with the situation between Russia and Ukraine likely one of the main culprits.
Traders, which typically see BTC as a high-risk asset, have moved to gold instead, leading to prices of the “safe haven” currency climbing to multi-month highs.
BTC/USD however seems to have found an interim floor after toda
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