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Bitcoin stabilizes at $49,000 after Friday's overnight plunge
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cnbc.comIn this article
Bitcoin prices stabilized on Sunday morning after wild trading sent the cryptocurrency tumbling more than 17% in just 24 hours.
The cryptocurrency traded at $48,953 around 9:15 a.m. Sunday on Wall Street, according to data from Coin Metrics. The move towards the $50,000 mark comes after bitcoin dropped to a low near $43,000 on Saturday, after trading around $57,000 on Friday.
Bitcoin's sharp tumble follows Friday's risk-off tone in the broader market. All three major averages finished Friday's trading in the red and posted losses for the week amid fears over what the omicron Covid variant means for the ongoing economic recovery.
Investors ditched equities in favor of safer areas of the market, with the yield on the 10-year
Read more on cnbc.comAbout this in other media
Bitcoin Shows 'Overwhelming' Institutionalization After ‘Significant Deleveraging’ cryptonews.com /2 years ago
Bitcoin Below $50,000, At Early October Levels, After Weekend's Battering ndtv.com /2 years ago
Bitcoin cracks $10,000 in an hour as crypto sell-off intensifies economictimes.indiatimes.com /2 years ago
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