Bitcoin skids from record high

Business | 22 Feb 2021 6:57 pm

Bitcoin fell sharply on Monday after surging to a record US$58,354 a day earlier, as a selloff in global equities curbed risk appetite, Reuters reports.

The most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalization of US$1 trillion on Friday.

Bitcoin fell by 6 percent on Monday, and was last trading down by 4.4 percent at US$54,941. Rival cryptocurrency ether fell by 7 percent at US$1,798 after also hitting a record high on Saturday. Traders said the move was largely technical, and not tied to any particular news catalyst.

 



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