Bitcoin Extends Losses as Investors Shun Risky Assets — Market Talk
Bitcoin extends its losses to reach an almost four-month low amid broad-based risk aversion. "Selling pressure from crypto miners and liquidations of exchange traded funds have been driving the selloff," Hargreaves Lansdown analyst Derren Nathan says in a note. This comes as investors shun risky assets and seek safe havens including Treasurys and gold amid U.S. credit concerns, he says. Loan losses at U.S. regional banks compound investor jitters over an escalation in U.S.-China trade tensions and the ongoing U.S. government shutdown, he says. Bitcoin falls more than 3% to a low of $103,659, according to LSEG. ([email protected])