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Bitcoin price briefly drops below $60,000 as strong dollar weighs on crypto
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livemint.comCryptocurrencies slid in overnight trading, with some of the most popular digital tokens losing more than 10% from recent highs. Some investors pointed to the stronger dollar as a catalyst for the fall.
Bitcoin briefly fell below $59,000 on Tuesday, tumbling to its lowest price this month, before edging up to trade around $60,550. The selloff began Monday and extended into a second day, with the digital asset down more than 5% since Monday at 5 p.m. ET. Ether slid for a fifth consecutive day, also declining another 7% to around $4,260. It is down more than 10% from its latest record.
“A lot of people view crypto as a risk-on investment," said Martha Reyes, head of research at Bequant, a digital-asset brokerage and exchange. In times of
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