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Bitcoin plunged through several closely watched price levels to the lowest since late 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.

The largest digital token by market value tumbled as much as 15% to $17,599 on Saturday, marking a record-breaking 12th consecutive daily decline, according to Bloomberg data. It’s still only the biggest drop since last Monday. The currency recovered some of those losses and was trading at $19,075 as of 8:30 a.m. in Singapore Sunday.

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