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.
Published 21 January 2021, 10:42 IST