Bitcoin Drops Most Since September in Broad Retreat From Records
- Digital currency bounces off lows after dropping below $60,000
- China statements on mining also seen undercutting sentiment
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Cryptocurrencies fell on Tuesday, with Bitcoin briefly dipping below $60,000 and Ether touching its lowest level this month, in a broad-based retreat from recent record highs.
The largest digital token whipsawed traders, dipping as much as 8.2% before cutting the decline by around half. The slide to $58,661 was the biggest intraday drop since Sept. 24. Second-ranked Ether tumbled more than 10% before also paring losses. Global crypto market cap has dropped some 10% in the past 24 hours to $2.7 trillion, according tracker CoinGecko.