Two months ago, bitcoin found themselves wrong-footed amid a sudden, savage slump in the price of the world’s most popular cryptocurrency. Now, with a fresh wave of selling overnight, they fear history is repeating.

Bitcoin tumbled as much as 7.4 per cent to $US96,794 in New York trading, dropping below the key $US100,000 level for the first time since June. The widely-held digital asset has sunk more than 20 per cent from its record reached a month ago, meeting the technical definition of a bear market. Ether, the second-largest crypto, fell as much as 15 per cent.

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