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Bitcoin's plunge is another sign of market angst

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Over the past week, as markets were churning on fears that the Omicron variant could derail the global economic recovery, bitcoin prices stayed surprisingly stable. Then came the weekend.

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.London

What's happening: The cryptocurrency at one point plunged more than 20% on Saturday. It's now trading at roughly $48,600, down from about $57,000 at the beginning of December. "We're seeing that continued fear of the Omicron variant," said Marcus Sotiriou, sales trader at digital asset broker GlobalBlock.

 

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Bitcoin —what is it

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