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Bitcoin Slides in Worst Weekly Drop Since March Amid Selloff

  • Largest cryptocurrency drops about 22% since record high
  • Selling in Grayscale trust may be contributing: Ayyar
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WATCH: Cathie Wood, CEO at Ark Investment Management, says it is “early days” for Bitcoin.Source: Bloomberg
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Bitcoin’s rally hit a speed bump as the world’s largest cryptocurrency witnessed its worst weekly decline in almost a year amid wider losses in risk assets.

The digital token slumped 20% this week, the most since the pandemic-fueled selloff last March. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, was down 23% for the same period.