Bitcoin slumps 8% as it heads for bruising monthly drop

Published by
Reuters

By Tom Wilson LONDON (Reuters) – Bitcoin slumped on Friday to its lowest this week, taking losses sparked by a growing crackdown in China and environmental concerns to almost 40% so far this month. The biggest cryptocurrency extended earlier losses, falling as much as 8.2% to $35,339 as it stayed pinned in this week’s relatively tight trading range. It was last down 6.2%. “Bitcoin is currently in a bit of ‘slumber mode’ trading in the range of $34,000 and $40,000,” said Ulrik Lykke, executive director at crypto hedge fund ARK36. “Many traders are acknowledging that price seems to be range-boun…

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