Bitcoin slumped 10% on Thursday to a 10-day low of US$31 977 as the world’s most popular cryptocurrency continued to retreat from the $42 000 record high hit on 8 January.
The pullback came amid growing concerns that bitcoin is one of a number of financial bubbles threatening the overall stability of global markets.
Fears that US President Joe Biden’s administration could attempt to regulate cryptocurrencies have also weighed, traders said. — Reported by Julien Ponthus, (c) 2021 Reuters