(Bloomberg) — Bitcoin dropped Monday as traders eased up on stimulus-fueled bets that had powered the digital token to a fresh record over the weekend.
The largest cryptocurrency slumped by as much as 9.2% before trading at $56,131 as of 1:04 p.m. in New York, after topping out at $61,742 on Saturday. Bitcoin reached its latest all-time high on optimism that some of the pandemic relief payments in the U.S. will end up chasing the digital token’s towering rally.
“The stimulus news was bid…
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