The cryptocurrency sell-off intensified on Monday, with bitcoin falling to a six-month low and other coins falling sharply.

Bitcoin fell 4.3% to below the $34,000 mark, extending a six-day losing streak. Ethereum fell 6.8% to hit its lowest level since July at $2,201.

The entire cryptocurrency sector has been in decline, with cryptocurrencies under broad selling pressure in recent days, with traders citing a hawkish signal from the Federal Reserve and a drop in tech stocks as reasons for traders to pull out of risky assets.

Bitcoin has fallen more than 50 percent since hitting a record high in November. “We don’t think it’s a bad thing that volatility removes the more speculative parts of the market,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.

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