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Tribune News Service
Tribune News Service
National
Sidhartha Shukla

Bitcoin’s Unraveling Tops 50% From Peak With Drop Below $32,000

Bitcoin

Bitcoin extended losses, dropping below $32,000 for the first time since July 2021, putting its decline from a November record high to more than 50% amid a global flight from riskier investments.

The world’s largest digital token fell as much as 7% on Monday and traded at around $31,924 as of 12:46 p.m in New York. Ether fell as much as 7.7%, while Solana dropped 12% and Avalanche dipped 13%.

Michael Novogratz, the billionaire cryptocurrency investor who leads Galaxy Digital Holdings Ltd., warned that he expects things to get worse before they get better.

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