Bitcoin and other cryptocurrencies fell sharply on Tuesday, retreating from near-record highs.
The world’s largest digital coin briefly fell below $60,000 during morning trade London time, slipping as low as $58,702 at one point.
It later recovered some of those loses and was 4% lower at $60,922.67 at 10:25 a.m. ET, according to Coin Metrics data.
Ether, the second-biggest cryptocurrency, fell 5% to $4,303.06.
The impetus behind the price movement was not clear.
China’s state planner, the National Development and Reform Commission (NDRC), said during a press conference Tuesday that it will continue to clean up virtual currency mining in the country.
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