Bitcoin extended this month’s losses in Monday trade as investors shied away from risk assets amid a more hawkish outlook for Federal Reserve policy tightening.The largest cryptocurrency slid as much as 3.3% to $38,223, the lowest since March 15, and down more than 20% from last month’s high. It was little changed after paring the earlier loss. The second-biggest coin, Ether, slumped as much as 4.8% to $2,799, a level not seen since March 18.Dogecoin jumped as much as 7.4% amid reports that long-time backer Elon Musk is close to reaching an agreement to buy Twitter Inc. Last year Musk took to promoting Dogecoin, a meme-coin made as a parody of cryptocurrencies, which help inflate the value of the token over 14,000% from the start of 2021 to a high of $0.68 per token in May 2021. Earlier in January, Musk announced on Twitter that Dogecoin can be used to buy Tesla Inc. merchandise.
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