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Cryptos No Refuge in Market Carnage as Bitcoin Breaks $8,000

  • Largest cryptocurrency down about 25% since February peak
  • Alt coins including Litecoin, Dash down more than 20% Monday
Cryptocurrency Mining As Bitcoin Slides Amid Stocks Rout
Photographer: Akos Stiller/Bloomberg
Updated on

Cryptocurrencies are not immune to the gyrations rocking global markets, plunging along with a broad range of assets on Monday in the wake of the collapse in crude oil prices.

Bitcoin, the largest digital currency, dropped as much as 16.4% from Friday’s close after extending a sell-off begun over the weekend, and was trading at around $7,726 as of 1:49 p.m. in New York. That’s the biggest one-day slump February 2018, according to consolidated pricing compiled by Bloomberg.