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Bitcoin dips below $85,000 in crypto currency rout
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FILE - Bitcoin tokens are seen on April 3, 2013, in Sandy, Utah. - photo by AP Photo/Rick Bowmer, File
Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued. Bitcoin, which soared to a record $126,210.50 on Oct. 6 according to crypto trading platform Coinbase, slid more than 7% to below $85,000. That's a decline of 33% in just eight weeks.