Bitcoin price falls 8%

The price of one Bitcoin fell by 8.3% to $29,500 on the largest cryptocurrency exchange Binance on May 11, Report informs referring to the auction data.

On May 9, the price of Bitcoin collapsed by more than 14%. One Bitcoin was worth less than $30,000 for the first time since the summer of 2021. In total, since the beginning of May, Bitcoin has fallen by almost 22%. The maximum value of Bitcoin at the beginning of May was $39,700.

Also, in the first week of May, there was the largest weekly outflow of finance from Bitcoin funds since June 2021: users withdrew assets worth $133 million.