New Delhi, Dec 6: Bitcoin and other cryptocurrencies fell sharply Saturday, another sign that investors were pulling back from riskier bets after this week’s stock-market selloff, MarketWatch reported.
Bitcoin, the largest cryptocurrency by market value, was down 18 per cent at $46,571.84 according to data from CoinDesk. It temporarily dipped to $42,000 before bouncing back. Ether, the second-largest cryptocurrency, was down close to 16 per cent, the report said.
The declines were widespread across the crypto universe. Other widely traded cryptocurrencies including Solana, Dogecoin and Shiba Inu coin lost more than a fifth of their value.
Disquiet in the stock market over the new Omicron variant of Covid-19 and the Federal Reserve’s response to inflation might have played a role, the report said.(IANS)
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