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World’s most popular crypto Bitcoin declines over 6% to lowest in two weeks

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Bitcoin

Bitcoin | Representational image


fell as much as 6% on Friday to its lowest in two weeks, as a rout in global bond sent yields flying and sparked a sell-off in riskier assets.


The world’s biggest slumped as low as $44,451 before recovering some of its losses. It was last trading down 1.3% at $46,588.


The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5%, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.


has risen about 60% from the start of the year, hitting an all-time high of $58,354 this month as mainstream companies such as Tesla Inc and Mastercard Inc embraced cryptocurrencies.


(Reporting by Ritvik Carvalho; additional reporting by Tom Wilson; editing by Dhara Ranasinghe and Karin Strohecker)

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First Published: Fri, February 26 2021. 15:51 IST

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