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Bitcoin falls to $64,000 wiping out more than two weeks of gains

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igorad
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Bitcoin falls to $64,000 wiping out more than two weeks of gains

Bitcoin fell to around $64,000 early Wednesday wiping out more than two weeks of gains.

The major selloff in the cryptocurrency market is viewed as a correction by most analysts after Bitcoin saw its price climbing to an all-time high of $73,666 last Thursday, the highest level in its 15-year history. The next day, it pulled back from its record-high level and the rally in the cryptocurrency market has come to a pause.

Bitcoin has been on a rally since Jan. 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs or exchange-traded funds. The move allowed investors, especially financial institutions, to trade Bitcoin without owning it.


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