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Bitcoin has been on a tear this year on expectations that regulators will allow the first US spot Bitcoin exchange-traded funds, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates next year also encouraged a rally in virtual currencies.
US software developer MicroStrategy Inc said it has not received a margin call against a bitcoin-backed loan and can withstand further volatility, soothing market jitters after the token's slide raised fears of asset liquidation.
Bitcoin fell to its lowest in 16 months on Thursday, continuing to fall alongside risk assets such as tech stocks
Bitcoin fell to its lowest level since January on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks.
Bitcoin (BTC) tumbles 6.08 per cent in the last 24 hours, while Ethereum crashes 7.08 per cent in the last 24 hours, as at 9.30 am, according to data from coinmarketcap.com