• The price of bitcoin fell below the $41,000 mark on Friday, reaching its lowest level since Sept. 29, according to data from Coin Metrics.
• Hawkish comments from the Federal Reserve this week triggered a sell-off in global stock markets which spilled over into cryptocurrencies.
• An internet shutdown in Kazakhstan, the world’s second-largest bitcoin mining hub, is also weighing on crypto prices.

Bitcoin dropped to a three-month low late Friday amid jitters over U.S. monetary policy tightening and an internet shutdown in Kazakhstan, the world’s second-biggest bitcoin mining hub.

The price of bitcoin fell below the $41,000 mark to $40,749.90 just after 10:50 a.m. ET Friday, reaching its lowest level since Sept. 29, according to data from Coin Metrics. It was last trading down 2.9% at a price of $41,947.75.

The world’s largest cryptocurrency began falling earlier this week after the minutes from the Federal Reserve’s December meeting hinted the U.S. central bank would dial back its pandemic-era stimulus.

The hawkish comments triggered a sell-off in global stock markets which spilled over into cryptocurrencies. Bitcoin bulls often describe it as an asset that is uncorrelated to traditional financial markets, however experts have noticed growing parallels in the price movements of bitcoin and stocks.

Other digital currencies continued to slide Friday, with ethereum shedding 6.8% and solana falling 7.7%…read more.