Bitcoin Falls Below $8,000 for First Time Since June
- The largest digital token has slumped about 20% since Friday
- Bloomberg Galaxy Crypto Index drops to lowest level since May
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Bitcoin extended its five-day losing streak on Thursday and dropped below $8,000 for the first time since June as a growing list of concerns weighed on crypto assets.
Bitcoin fell as much as 9% to $7,736 in New York, according to Bloomberg composite pricing, before bouncing off the lows of the day. The Bloomberg Galaxy Crypto Index that tracks a basket of cryptocurrencies slumped more than 8% as peer coins, including Ether and XRP, also sold off. That’s the lowest level since May for the index.