Bitcoin slides 6% to below $55,000

Bitcoin fell more than 6% on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite. The most popular cryptocurrency surged over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday. Rival cryptocurrency ether fell 7% to $1,798.

Bitcoin fell more than 6% on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.

The most popular cryptocurrency surged over the weekend to record levels, almost doubling year-to-date. It hit a market capitalization of $1 trillion on Friday.

Rival cryptocurrency ether fell 7% to $1,798. Bitcoin was trading at $54,000 as of 1011 GMT.

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