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Bitcoin drops 10% as pullback continues

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Bitcoin slumped 10% to a 10-day low, retreating further from record highs, with traders citing fears of tighter U.S. regulation.

Yesterday, BlackRock Inc said in a company filing that it was adding bitcoin futures as an eligible investment to two funds, in a move to bring the world of cryptocurrency to its clients.

During a Senate hearing on Tuesday Janet Yellen, Biden's pick to head the U.S. Treasury, expressed concerns that cryptocurrencies could be used to finance illegal activities.

#News #Bitcoin #cryptocurrency #JanetYellen

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