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    Monday, June 15

    Bitcoin Hits 2-Month Low on Fresh Selloff

    Julius AlagbeBy Updated: News No Comments1 Min Read
    Bitcoin Hits 2-Month Low on Fresh Selloff

    Bitcoin Hits 2-Month Low on Fresh Selloff

    After keeping an uptrend for months, Bitcoin slumped on Friday amidst uncertainties across global markets. Top cryptocurrency bitcoin hit a fresh two-month low, breaking out of its recent tight range.

    The price depreciation followed a wave of risk-off sentiment that gripped retail investors and world markets. On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed.

    It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since June 16, it had partly recovered to $26,478, down 0.6% on the day.

    Ether, the second biggest cryptocurrency, was steady at $1,690.20, having also dropped sharply on Thursday. Bitcoin had been hovering close to $30,000 in recent months. It was lifted in June by BlackRock applying to launch a spot bitcoin exchange-traded fund (ETF) in the United States.

    Yesterday, Bitcoin dropped 7.2% to $26,634, losing $2,067 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 16.3% from the year’s high of $31,818 on July 13.

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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