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Bitcoin Falls After Weekend Rally Pushes Token to Fresh Record

  • The digital asset surged to an all-time high on Saturday
  • Risk metrics started to look ‘frothy’ over the weekend: Arca
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Bitcoin Hits $60,000 for First Time
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Bitcoin dropped Monday as traders eased up on stimulus-fueled bets that had powered the digital token to a fresh record over the weekend.

The largest cryptocurrency slumped by as much as 9.2% before trading at $56,131 as of 1:04 p.m. in New York, after topping out at $61,742 on Saturday. Bitcoin reached its latest all-time high on optimism that some of the pandemic relief payments in the U.S. will end up chasing the digital token’s towering rally.