Bitcoin plummets to four-month low, Ether also declines

Bitcoin fell to its lowest level in four months on Friday, dropping more than 8 percent to USD 53,523. 

The leading cryptocurrency has declined by about 12 percent since the beginning of the week, even as many risk-sensitive assets that tend to track its movements, such as the Nasdaq index, have risen, according to Reuters.

This marks the lowest drop for the digital currency since late February, signaling a significant downturn in the market. 

Investors and analysts are closely watching this trend, as Bitcoin's movements often influence the broader cryptocurrency market.

In related news, Ether, the second-largest cryptocurrency by market capitalization, dropped 9 percent to its lowest level in more than two months, at USD 2,841. 

It is worth mentioning that Bitcoin had reached what was described as a frenzied high in early March, with its value exceeding USD 72,000, according to Agence France-Presse.