Bitcoin Tumbles Below $50,000; Cathie Wood Eyes the Dip
- Crypto exchange Bitfinex reaches settlement over Tether probe
- Square added to Bitcoin holdings with $170 million purchase
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Bitcoin’s losses accelerated, with prices tumbling below $50,000, as investors started to bail on the market’s frothiest assets.
The cryptocurrency tanked as much 18% on Tuesday and traded around $48,000 as of 5:35 p.m. in New York. While the selloff only puts Bitcoin prices at the lowest in about two weeks, investors are starting to wonder whether it marks the start of a bigger retreat from crypto or simply represents volatility in an unpredictable market.