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Bitcoin falls further after weekend rout wipes more than $400 billion from crypto markets

Bitcoin falls further after weekend rout wipes more than $400 billion from crypto markets
Crypto markets' volatility is often amplified by the use of leverage.krisanapong detraphiphat/Getty Images


Bitcoin fell again Monday after a weekend crypto sell-off wiped more than $400 billion from the digital asset market.




The world's biggest cryptocurrency traded below $50,000 Monday, having stood above $57,000 four days earlier.




Analysts said cryptocurrencies are likely to stay volatile as policymakers navigate the next phase of the pandemic.


Bitcoin fell Monday after a dramatic rout wiped more than $400 billion from crypto markets over the weekend.The world's biggest cryptocurrency was down 3.7% to $47,585 on the Coinbase exchange as of 5.35 a.m. ET.Bitcoin crashed to as low as $42,000 Saturday from above $57,000 Friday, before rebounding to trade just below $50,000 for most of Sunday.As of Monday, the token was roughly 30% below its November record high of close to $69,000, underscoring the volatility of the digital asset.
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