Bitcoin fell below $60,000 for the first time since Nov. 1 on Tuesday, while the cryptocurrency ether also dropped sharply.
Bitcoin — which last week hit a new record high of $69,000 — fell to as low as $58,600, its weakest in 19 days, and was last down around 7% on the day. It is down 14% from that peak.
Ether, the world’s second-biggest cryptocurrency, fell to a 19-day low of $4,109.03 and was last down around 9.7% on the day.
If sustained, the move will be both cryptocurrencies’ biggest daily fall since September.