Bitcoin Price Briefly Drops Below $60,000 as Strong Dollar Weighs on Crypto – The Wall Street Journal

Cryptocurrencies slid in overnight trading, with some of the most popular digital tokens losing more than 10% from recent highs. Some investors pointed to the stronger dollar as a catalyst for the fall.

Bitcoin briefly fell below $59,000 on Tuesday, tumbling to its lowest price this month, before edging up to trade around $60,550. The selloff began Monday and extended into a second day, with the digital asset down more than 5% since Monday at 5 p.m. ET. Ether slid for a fifth consecutive day, also declining another 7% to around $4,260. It is down more than 10% from its latest record.