Top digital currencies slumped, mirroring the wider markets, as rising inflation and the escalating Coronavirus (COVID-19) crisis in China spooked investors. Bitcoin lost 2.6% to US$45,426, while smaller peer Ethereum fell 4.3% to US$3,368. Both digital currencies are languishing about 30% below all-time highs seen in November, before the emergence of the Omicron variant and Russia's invasion of Ukraine. Chinese markets fell overnight, taking their cue from the US, as rising COVID-19 cases sparked widespread lockdowns across the country. Sentiment was also hit by data from the OECD which found inflation in rich countries hit a 30-year high in February on the back of soaring energy and food prices.
The Crypto Report: Bitcoin and Ethereum lower as inflation and Chinese COVID-19 woes weigh
