New Delhi:Bitcoin declined to three-month lows on Friday as minutes of the latest US Federal Reserve meeting raised the possibility of the central bank boosting interest rates as soon as March, Barrons reported.
Bitcoin traded Friday at $42,086, down 2.1 per cent over the past 24 hours, according to CoinDesk. The world's largest cryptocurrency fell as low as $41,012, hitting the lowest level since September 29 and taking the weekly decline to 12 per cent, CoinDesk reported. Bitcoin's record high is $68,990.90.
Ethereum, the second-largest digital currency, has declined 4.9 per cent over the past 24 hours to $3,231, the report said.
Analysts at Fundstrat said in a note that near-term technical and cycles for cryptocurrencies remain bearish, "and suggest further weakness might unfold into this Spring before any meaningful low is at hand".