Bitcoin falls as Wall Street stocks fall.

Bitcoin falls as Wall Street stocks fall. 

 On Monday, bitcoin fell to its lowest level since July 2021, falling in lockstep with sagging US stock markets on fears about the Federal Reserve's aggressive tightening policy.  

&nbsp Bitcoin, the world's most valuable cryptocurrency by market capitalization, fell to $30,331.28 for the fifth straight session. Bitcoin was last trading at $30,724, down 9.8%.

&nbsp The S&P 500 index fell to its lowest level since April 2021 on Monday, owing to falls in mega-cap growth stocks. The Nasdaq was down more than 3%, while Apple (AAPL.O) was down more than 3% and was the Nasdaq and S&P 500's heaviest weight.  

&nbsp Hiro's chief executive officer, Alex Miller, says "Market volatility is caused by speculation. Because bitcoin is so speculative, its price, as well as the rest of the crypto market, is falling in lockstep with the rest of the market."  

&nbsp Hiro creates developer tools for Stacks, the bitcoin network that powers apps and smart contracts.  

&nbsp Ether, the world's second-largest cryptocurrency and the basis for the Ethereum blockchain, has dropped to its lowest level since late January.  

&nbsp "The most essential thing to do to prepare for bear markets is to keep your portfolio balanced and not overinvest in assets that you can't afford to wait out a crypto winter with," Miller added. "Holding long-term assets like bitcoin, or even increasing your stake if you're set up to do so, is the smartest thing you can do, as we've seen from every downturn ever."  

&nbsp Despite bitcoin's price decline, funds and products related to it received $45 million in inflows last week, according to a report issued on Monday by digital asset management Coinshares.  

&nbsp Investors took advantage of bitcoin's price falls, according to CoinShares investment manager James Butterfill.  

&nbsp According to the CoinShares report, the crypto industry as a whole received $40 million in inflows.