Bitcoin Plunges, Taking Other Cryptocurrencies With It

After reaching a record a few days ago, Bitcoin is dropping, along with other popular cryptocurrencies. Here are some of the latest numbers:

Story updated to add latest on Dogecoin and news of Coinbase insiders selling shares.

To add Benzinga News as your preferred source on Google, click here.

After reaching a record a few days ago, Bitcoin is dropping, along with other popular cryptocurrencies. Here are some of the latest numbers:

The world’s biggest cryptocurrency, Bitcoin (CRYPTO: BTC) in the last 24 hours has dropped about 9% to $55,268 as of time of publishing, according to CoinMarketCap.
Similarly Ethereum (CRYPTO: ETH) fell almost 12% to $2,110, as of publication time.
According to Bloomberg, the crypto markets are stumbling amid rumors that the U.S. Treasury Department may take action against financial institutions because of money-laundering concerns.
Simple profit-taking also is likely playing a part, given the highs that came following the listing of Coinbase Global Inc (NASDAQ:COIN) last week. Bitcoin broke past $64,000 on Wednesday, the day of Coinbase's listing.
Dogecoin also is down from its record high of about 44 cents on Friday, now standing at $0.303 as of publication time, though it has since rebounded in the past 24 hours.
The drop also comes upon news of Coinbase insiders selling off shares right after Wednesday's listing.

Story updated to add latest on Dogecoin and news of Coinbase insiders selling shares.

To add Benzinga News as your preferred source on Google, click here.