Bitcoin at its lowest level in three weeks

Cryptocurrencies continued to slide to their lowest levels in three weeks, as inflation in the United Kingdom raised persistent concerns about the health of the global economy.

Bitcoin rose 0.3% to $40,134, but was still flat above the $40,000 key support level.

Ethereum, the closest competitor by market capitalization, gained 1.5% to $3,058.

It is worth noting that British data released today revealed that inflation has risen to its highest level since 1992, in addition to yesterday’s news that prices in the US have risen to their highest level in 40 years.