By Rae Wee and Elizabeth Howcroft

Summary:

– Bitcoin down nearly 30% from October peak above $126K.

– $1.2 trillion erased from total cryptocurrency market in six weeks.

– Corporate crypto holders face potential losses as sentiment weakens.

SINGAPORE / LONDON — Bitcoin fell below $90,000 for the first time in seven months on Tuesday, marking 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 nearly 30% below a peak above $126,000 in October. It was last down 1.1% at $92,891, after slipping 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

See Full Page