Bitcoin drops to a 10month low as crypto market continues to decline

Bitcoin’s price has hit a new low in the wake of a significant stock sell-off that also rattled the cryptocurrency market amid the sustained correlation between the two asset classes. As of 8 May 2022, Bitcoin was down almost 4% within 24 hours, trading at $34,602, a new almost ten-month low from the $34,292 registered on 24 July 2021.