Bitcoin Price Falls Below $37,000 in Tandem With Tech Selloff

Digital currency hits its lowest level since August 2021, showing a tight correlation with moves in the stock market

It is becoming a more common occurrence: When stocks fall, so does bitcoin. 

Bitcoin, the world’s largest cryptocurrency by market value, fell below $37,000 Friday to its lowest dollar value since August 2021

It settled at $36,689.39, down 11% from Thursday and down 46% from its record in November 2021.

The drop came fast on the heels of a late-afternoon swoon in the stock market on Thursday. 

Cryptocurrencies and stocks have fallen together since the start of the year

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