Bitcoin falls over 6% to lowest in two weeks

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

Bitcoin falls over 6% to lowest in two weeks
Bitcoin falls over 6% to lowest in two weeks. Source: Reuters
Updated: Fri, Feb 26, 2021
04:19 pm
Reuters

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

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

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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.

Bitcoin 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)

 

 

The story has been taken from a news agency

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