China warns on cryptocurrency mining, Bitcoin slips over 8%

Global crypto market cap has dropped some 10 % in the past 24 hours, according to CoinGecko.

Cryptocurrencies fell on Tuesday, with Bitcoin briefly dipping below $60,000 and Ether touching its lowest level this month, in a broad-based retreat from recent record highs.

The largest digital token dipped as much as 8.2 per cent to $58,661, the biggest intraday drop since Sept 24. Second-ranked Ether tumbled more than 10 per cent. Global crypto market cap has dropped some 10 per cent in the past 24 hours to $2.7 trillion, according tracker CoinGecko.

“After several days of gains, which saw Bitcoin hover near it’s all-time high as many other altcoins managed to reach new highs, we are seeing a significant