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Bitcoin Lingers Near September Lows Amid Drop of 40% From Record

  • Prices stablize after U.S. jobs report sends mixed message
  • Expectations of rising U.S. rates have weighed on risk assets
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What Can Give Bitcoin a Boost?

Source: Bloomberg

Updated on

Bitcoin traded near the lowest levels since September after an earlier swoon extended its weeks-long decline from an all-time high to about 40%. 

The largest cryptocurrency by market value fell as much as 4.9% to $41,008 before stemming the decline during U.S. trading hours. It hit a record of almost $69,000 on Nov. 10. Ether, the second-largest, dropped as much as 9% to its lowest level since Sept. 30. Both of those tokens, as well as others including Binance Coin, Solana, Cardano and XRP are down more than 10% in the past seven days, according to CoinGecko.