Bitcoin Extends Retreat From Record as ‘Bubble’ Talk Escalates
- Digital token dropped back as global risk sentiment wobbled
- BofA says crypto among assets showing bubble-like aspects
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Bitcoin extended a retreat from its latest record high amid an intensifying debate about whether the bull run in cryptocurrencies is evidence of speculative froth in global markets.
The largest digital asset dropped as much as 7.2% on Friday before paring some of the slide to change hands at $67,725 as of 7:57 a.m. in New York. The token set a fresh all-time peak of almost $73,798 a day earlier.