Bitcoin Extends Selloff to $9,000 Amid Wider Risk-Asset Aversion
- Technical gauges suggest Bitcoin has found short-term bottom
- Biggest cryptocurrency dipped below its 50-day moving average
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Bitcoin bounced off the lows of the day after sliding below $9,000 for the first time since May amid a renewal in global risk aversion.
The largest cryptocurrency tumbled as much as 5.1% Monday and recovered to about $9,270 as of 11:30 a.m. in New York, according to consolidated pricing data from Bloomberg. For the first time since the end of April, the token dipped below its 50-day moving average, a level that’s considered a point of resistance for some traders.