Bitcoin, the world's biggest cryptocurrency, slumped as much as 13% to its lowest since Nov. 16. It was last down 9% at $17,074, a sharp correction from its three-year high of $19,521 hit on Wednesday. Both coins, which tend to move in tandem with bitcoin, hit multi-year highs earlier this week. A functioning cryptocurrency derivatives market has developed since 2017, with offshore exchanges offering highly leveraged positions. Bitcoin has reacted sharply in the past to regulatory clampdowns by American authorities.

Source: Dhaka Tribune November 26, 2020 12:11 UTC