Bitcoin Rout Picks Up Steam as Investors Fret Over a New ‘Crypto Winter’

The rout in cryptocurrency is intensifying. 

Bitcoin tumbled more than 6% on Monday, its biggest one-day drop since March. The world’s largest digital currency traded at $85,468 as of 4 p.m. Eastern time in New York and is down more than 30% from a peak above

$126,000 set in early October. The selloff has spilled into other digital coins, including ether and solana, and pulled down stocks tied to the crypto market such as exchange operator Coinbase Global

COIN

1.32%

increase; green up pointing triangle and Strategy MSTR 5.78%increase; green up pointing triangle, Michael Saylor’s bitcoin-accumulation company.