Bitcoin tumbles below $40,000 to lowest since September as investors dump risky assets.

The price of bitcoin fell to its lowest point since September on Monday as rising rates continue leading investors to shed positions in risky, growth-oriented assets.

Bitcoin hit a record high of about $68,000 in November following a hot inflation reading that at the time showed the biggest jump in consumer prices in 30 years. That reading caused investors to jump into inflation hedges, including bitcoin as well gold.