<p>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.</p>.<p>The pullback came amid growing concerns that bitcoin is one of a number of financial bubbles threatening the overall stability of global markets.</p>.<p>Fears that US President Joe Biden's administration could attempt to regulate cryptocurrencies have also weighed, traders said. </p>
<p>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.</p>.<p>The pullback came amid growing concerns that bitcoin is one of a number of financial bubbles threatening the overall stability of global markets.</p>.<p>Fears that US President Joe Biden's administration could attempt to regulate cryptocurrencies have also weighed, traders said. </p>