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Representative Image. Credit: AFP Photo
Bitcoin slumped 10 per cent on Thursday to a 10-day low of $31,977 as the world's most popular cryptocurrency continued to retreat from the $42,000 record high hit on Jan. 8.
The pullback came amid growing concerns that bitcoin is one of a number of financial bubbles threatening the overall stability of global markets.
Fears that US President Joe Biden's administration could attempt to regulate cryptocurrencies have also weighed, traders said.
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