SINGAPORE/LONDON >> Bitcoin fell below $90,000 for the first time in seven months on Tuesday in the latest sign that investor appetite for risk is drying up across financial markets.

The risk-sensitive cryptocurrency has lost all this year’s gains and is now down nearly 30% from a peak above $126,000 in October. It was down 1% at $90,907.51 in early European trading after touching as low as $89,286.75.

About $1.2 trillion has been wiped off the total market value of all cryptocurrencies in the past six weeks, according to market tracker CoinGecko.

Market participants said that a combination of doubts around future U.S. interest rate cuts and the risk-averse mood in broader markets, which have wobbled after a long rally, was dragging down crypto.

“The cascading selloff is amplified by l

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