The price of bitcoin was last lower by more than 3.7% at $63,144.00, according to Coin Metrics.
Cryptocurrencies slid on the first day of August, after a batch of economic data heightened investor worries about the economy , driving them to move out of risk assets including crypto.
Disappointing data out Thursday fueled investor worries that the U.S. economy could be at risk of a recession — a day after the Federal Reserve voted to keep interest rates unchanged.
Bitcoin is poised for choppy trading in August, a seasonally sluggish month for the cryptocurrency as well as risk assets more broadly.
The flagship cryptocurrency has traded in a range between $55,000 and $70,000 since March, when it notched an all-time high above $73,000.
Persons:
bitcoin, Cryptocurrencies, Bitcoin
Organizations:
Metrics, Federal Reserve
Locations:
U.S