Bitcoin Hits Its Lowest Level in 10 Days

Bitcoin slumped to its lowest level in 10 days, halting its sharp rally and sparking sell-off among smaller cryptocurrencies.

The world’s largest cryptocurrency fell 13% to its lowest level since November 16 and was last down 9% to $ 17,074, a sharp correction from its three-year high of $ 19,521 on Wednesday.

Bitcoin has risen nearly 140% this year to close to an all-time high of $19,666, driven by demand for riskier assets, resistant to inflation, and expectations that cryptocurrencies will win acceptance.