Bitcoin plunges after weekend climb to record high
By Tom Wilson
Reuters
LONDON (Reuters) - Bitcoin fell on Monday after surging to its latest record high a day earlier as a sell-off in global equities curbed risk appetite, with traders citing the unwinding of highly leveraged long positions in the cryptocurrency.
The most popular cryptocurrency fell 8% to under $53,000, setting it on course for its worst day in a month. It was last down 7.5% at $53,177.
Bitcoin rallied on Sunday to a peak of $58,354, with its latest bout of weekend price moves taking its gains so far this year to almost 100%. Its market capitalisation grew to $1 trillion on Friday.