Bitcoin briefly dropped below $60,000 for the first time in more than a month, with volatility increasing ahead of a software update in the blockchain that has long been touted as bullish for the cryptocurrency.
The original digital asset fell as much as 5% to $59,888, before paring the decline. Bitcoin has dropped by about 18% since it reached a record $73,797 on March 14. Other smaller tokens such as Ether, Solana and Dogecoin slumped on Wednesday. Crypto—related stocks, including MicroStrategy, Coinbase and Marathon Digital, also traded lower.
