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CryptoWatch: After run at $10,000, bitcoin resumes downtrend

The price for bitcoin opened higher Monday, and well off Friday’s low, as the world’s No. 1 cryptocurrency looked to claw back some recent losses. However, after making a run at the $10,000 mark early Monday, bitcoin slumped back into the red.

A single bitcoin BTCUSD, -1.22% recently changed hands at $8,990.79, down 5.7% on the day.

Bitcoin dropped about 20% last week, with analysts blaming the selloff in part on regulatory worries, such as a Wednesday warning on crypto-trading platforms from the Securities and Exchange Commission.

The People’s Bank of China also sounded downbeat on digital currencies last week.

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