Bitcoin drops to lowest in month as risk aversion takes toll

Bitcoin dropped to its lowest level in more than a month as cryptocurrency continued to be hurt by investors’ risk aversion amid signs of muted new interest in the coins.

The largest cryptocurrency fell as much as 4.2 per cent to $38,580 on Monday. Second-largest Ether dropped 4.7 per cent, declining to as low as $2,902. The global crypto market’s value dropped about 4 per cent in the past 24 hours to $1.9tn.

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