Cryptocurrencies
Bitcoin Buckles, Then Bounces, in Late-Day Spurt of Volatility
- Digital currency posts its first decline in four days
- Bitcoin trend remains positive despite pullback: strategist
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A flurry of selling briefly pushed Bitcoin to its biggest intraday drop in more than two weeks. While the largest cryptocurrency recouped some of its losses, it ended lower for its first drop in four days.
Bitcoin fell 3.5% to $55,360 as of 5 p.m. in New York on Tuesday after earlier slumping to as low as about $54,000. Even with the drop, the largest cryptocurrency by market value is up more than 90% year to date and remains within sight of its all-time high of about $65,000 reached in April. For the month alone, Bitcoin has climbed more than 25%.