Bitcoin dips below US$41,000 as cryptocurrency market experiences profit-taking

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11th December 2023 – (New York) Bitcoin briefly dropped below the $41,000 mark as speculators sought to capitalize on profits from this year’s substantial rally in digital assets. The largest cryptocurrency by market capitalization experienced a decline of up to 7.5% before recovering some of the losses, ultimately trading approximately 4% lower at $41,992 as of 10.19am n Singapore on Monday.

This pullback in Bitcoin’s price was accompanied by losses in various other cryptocurrencies, including popular altcoins such as Ether and Dogecoin, which have gained significant attention from the meme-crowd.