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Blue Monday? Bitcoin tumbles 5% after weekend battering
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Bitcoin tumbled almost 5 percent on Monday as the start of the week offered little respite to the world's largest cryptocurrency after a bruising weekend where at one point it lost over a fifth of its value.
The rout sent bitcoin's price and the amount invested in bitcoin futures back to where they were in early October, before a massive price surge that sent the token to an all-time high of $69,000 on November 10.
It was last down 3.9 percent at $47,567.
Traders said the weekend fall was connected to a broad move away from riskier assets in traditional markets over worries about the Omicron variant of the coronavirus, combined with lower trading liquidity that tends to plague cryptocurrencies at weekends.
"Our expectation is the rest of Q4
Read more on moneycontrol.comAbout this in other media
Bitcoin back over $50,000, as market calms after weekend turmoil moneycontrol.com /2 years ago
Bitcoin back over $50,000 as market calms after weekend turmoil economictimes.indiatimes.com /2 years ago
Bitcoin Back Over $50,000, As Market Calms After Weekend Turmoil ndtv.com /2 years ago
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