Bitcoin Tumbles as Analysts Point to Looming Technical Breakdown

Colonial ransom recovery is seen as possible negative by some
Commodities, some stock markets now outperform token in 2021

WATCH: Lily Liu, an angel investor in cryptocurrency, discusses Bitcoin's slump to a two-week low and whether it's because of Elon Musk.(Source: Bloomberg)

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By Vildana Hajric

June 8, 2021 at 3:04 AM UTC

Updated on

June 8, 2021 at 6:33 PM UTC

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Bitcoin slumped to a two-week low, with analysts pointing to a technical breakdown as well as the recovery of Colonial Pipeline Co.’s ransom as evidence that crypto isn’t beyond government control.