Bitcoin Extends Drop Amid Global Selloff as Stocks Stumble
- Cryptocurrencies take a beating along with other risk assets
- Analysts say China Evergrande worries may be spilling over
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Cryptocurrency prices extended a slump Tuesday after a broad selloff sparked by worries about contagion from China Evergrande Group swept through global markets.
Bitcoin slid as much as 7.6% to $40,237 in early Asian trading, dropping to the lowest level since the beginning of August, before paring some of the decline. Ether retreated below $3,000. Cardano fell about 10% over the last 24 hours, according to CoinGecko.com.