Bitcoin Tumbles to 18-Month Low as US Inflation Impact Spreads.• Ether, other altcoins also suffer amid broad selloff• Crypto remains ‘at the mercy of the Fed,’ Nexo’s Trenchev saysBitcoin plunged to the lowest in about 18 months in Asia trading Monday as the impact of Friday’s shock US inflation data continued to reverberate through global risk assets.
The world’s largest digital token tumbled as much as 8.9% to $24,903.49 -- its lowest since December 2020. Other cryptocurrencies also declined as a broader sell-off continued. The MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 9.7%.
Other coins were also having a difficult time, with Ether off as much as 12% to its lowest level since February 2021. Avalanche dropped as much as 15%, Solana up to 14% and Dogecoin as much as 11%.
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