Bitcoin Plunged More Than 6% to The Lowest Level in Two Weeks

Bitcoin plunged as much as 6% today, hitting its lowest level in two weeks, as turmoil in global bond markets led to higher yields and sparked sales in riskier assets.

The largest cryptocurrency in the world fell to a low of $44,451 before recouping some of its losses. And in the latest trading, it recorded a 1.3% drop to 46,588 dollars.

The selling is a repeat of what the stock market witnessed, as European shares fell by as much as 1.5%, with demand affected by concerns about rising valuations. Asian shares fell, the biggest drop in nine months.

Bitcoin has risen nearly 60% since the start of the year, reaching an all-time high of $58,354 this month as major companies such as Tesla and MasterCard have adopted cryptocurrencies.