5/20, 8:20 PM (Source: TeleTrader)
more TeleTrader news

Bitcoin tumbles 5% as crypto market plunges

The world's most popular cryptocurrency, Bitcoin, extended losses on Friday by losing nearly 5% as both the Wall Street and the cryptocurrency market saw a major sell-off.

Inflation concerns continued to rise with the Federal Reserve confirming increases of its key interest rates at the upcoming meetings of the Federal Open Market Committee.

Bitcoin lost 4.89% to $28,841 at 2:21 pm ET, while Ether fell 4.73% to $1,922 at the same time. Bitcoin declined nearly 38% since the start of the year to hover around the lowest level since July last year.

Baha Breaking News (BBN) / ND