Bitcoin Tumbles as Cryptocurrencies Join Global Equities Selloff
- Crypto index slumps as much as 11%; Ripple, Ether lead decline
- Global market rout has ‘spilled over to the crypto space’: OSL
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There were no good spots for investors to hide in Thursday’s global equities rout, as cryptocurrencies joined the selloff.
Bitcoin, the largest digital currency, fell almost 7 percent to the lowest since mid-August, before paring its loss to 5.1 percent as of 8:08 a.m. in New York, according to prices compiled by Bloomberg. The Bloomberg Galaxy Crypto Index tumbled 10 percent, headed for a third day of losses.