Cryptocurrency prices tumbled over the weekend and on into 9 May, with Bitcoin nearing a yearly low as investors continued to dump risky assets amid a tough stock market and challenging macroeconomic backdrop.

The price of bitcoin has fallen more than 10.2% over the past 24 hours to roughly $31,000, deepening losses from over the weekend after changing hands around $36,000 on 6 May. It puts the largest crypto at its lowest level since July 2021.