Bitcoin slumps under $25,000, lowest in 18 months

Bitcoin tumbled Monday to an 18-month low under $25,000 as investors shunned risky assets in the face of a global markets selloff.

The world's most popular cryptocurrency dived about 10 percent to hit $24,692 in morning London deals, striking a level last seen in December 2020.

World stock markets have plunged since Friday when data showed US inflation at a fresh four-decade high, increasing recession fears.

"The correlation between the equity markets and bitcoin continues to" gain strength, said AvaTrade analyst Naeem Aslam.