Bitcoin tumbles around 5%
3:48 pm Sunday, August 04th, 2024
(Reuters) -Bitcoin fell on Sunday, continuing a selloff in the world’s largest cryptocurrency.
The cryptocurrency was recently down around 5.1% at $59,357 after falling the previous day.
Crypto markets have gotten a boost this year after the U.S. Securities and Exchange Commission approved an exchange-traded fund to track the spot price of bitcoin and ether.
More recently, however, bitcoin has fallen alongside other assets including global equities in a broad selloff. The cryptocurrency is off nearly 20% from its March 2024 high.
(Reporting by Surbhi Misra in Bengaluru and Ira Iosebashvili in New York; Editing by Will Dunham)
