Bitcoin tumbled below $90,000 to hit the lowest level since mid-November, as the rally that followed Donald Trump’s election to the White House reverses amid a broader retreat from risky assets.
Bitcoin dropped as much as 8.5%, the biggest intraday declined since August. The largest cryptocurrency by market value was down 7.6% to $86,805 at 11:20 a.m. in New York on Tuesday. Other cryptocurrencies also fell, with Ether, XRP and Solana were mostly down more for the session. An index tracking top digital tokens was on pace for its largest four-day drop since early August.
Council on Foreign Relations senior fellow and former Bridgewater Associates chief investment strategist Rebecca Patterson discusses the selloff and what it means for the broader cryptocurrency market. Rebecca speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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