Bitcoin drops to minimum since summer of 2021

During trading on Monday, May 9, the bitcoin price fell to $33,490, the lowest since the summer of 2021, Report informs, citing Binance Exchange.

Bitcoin fell by 3.35% after the start of trading, when the digital currency was at $33,390 (-3.59%).

On May 6, Moody's announced the ineffectiveness of cryptocurrencies for Russia due to sanctions and that the digital currency won't help the country in the fight against Western sanctions that restrict international financial transactions.