NEW YORK, May 24 — Bitcoin fell to a six-week low, as selloff that began in early May dropped the cryptocurrency’s price below US$7,500 (RM30,152) for the first time since mid-April.

Bitcoin slumped 7.3 per cent to US$7,495 as of 1.57pm in New York, according to Bloomberg composite pricing. It’s now down more than 20 per cent since a May 4 peak.

Yesterday’s decline came after OKEx, the most active fee-charging exchange over the past day, suspended withdrawals and fiat trading to fix an error that was leading to inaccurate account balances, according to a statement on its website.

The latest hiccup come as the world’s most valuable digital coin is mired in a slump amid growing regulatory scrutiny even after last week’s Consensus confab put the community’s optimism and excess in full display.

The declines yesterday also coincided with a selloff in financial markets, with stocks and commodities falling on fading optimism over the US’s talks with North Korea and China. Ethereum was also down 5 per cent yesterday, while Bitcoin Cash fell 9 per cent. — Bloomberg