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Bitcoin Price Falls Below $63,000

Bitcoin fell early Tuesday, dragging other cryptocurrencies and shares of Coinbase along with it.

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Coindesk chart

The drop builds on a recent pullback, and leaves the world’s biggest cryptocurrency down more than $10,000 from the record intraday high of nearly $73,679 it hit Wednesday.

The digital token recently traded at about $62,800, down 6% from Monday’s 4 p.m. ET price.

Ether dropped about 7% to $3,253.

Shares of Coinbase, the U.S.’s largest crypto exchange, fell 8.5%.

Bitcoin prices were due a correction, given market exuberance since exchange-traded funds based on spot bitcoin launched earlier this year, said Ilan Solot, a strategist at London-based Marex Solutions.

These ETFs saw net outflows Monday, as investors pulled money out of funds run by Grayscale, Solot said.


  • BTCUSD (CoinDesk Indices)
  • 64897.89-2060.79-3.08%
  • Coinbase Global Inc.
  • COIN (U.S.: Nasdaq)
  • $232.18 USD-7.44-3.10%
  • Grayscale Bitcoin Trust (BTC)
  • GBTC (U.S.: NYSE Arca)
  • $57.85 USD-1.73


Source: Coindesk
Image: BTC