Bitcoin briefly breaks below $61,000 as sell-off intensifies
Bitcoin briefly sank below $61,000 on Thursday evening as investor confidence continued to falter in the asset once hailed as “digital gold” and a unique store of value.
At one point, the token slid to $60,062.00, as the crypto sell-off intensified in overnight trading. Bitcoin was last down about 15% at 7:37 p.m. ET, trading at $62,448.00.
Digital assets, including bitcoin, have fallen deeper into the red as investors re-assess the practical utility of a token that has been championed not only as a hedge against inflation and macroeconomic uncertainties but also as an alternative to fiat currencies and traditional safe-havens such as gold.
That hasn’t panned out lately, since bitcoin peaked just north of $126,000 in early October.
The…
