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Bitcoin slumps under USD25,000, lowest in 18 months

LONDON (AFP) – Bitcoin tumbled yesterday to an 18-month low under USD25,000 as investors shunned risky assets in the face of a global markets selloff.

The world’s most popular cryptocurrency dived about 10 per cent to hit USD24,692 in morning London deals, striking a level last seen in December 2020.

World stock markets have plunged since Friday when data showed United States (US) inflation at a fresh four-decade high, increasing recession fears.