12/4/2021, 5:57 PM (Source: TeleTrader)
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Cryptos pare losses, Bitcoin back above $48,000

Prices of cryptocurrencies trimmed some of the losses on Saturday after a major overnight plunge which saw Bitcoin as low as $44,251 and Ether at just over $3,500.

The crash occurred amid talks of prominent crypto-firm CEOs being summoned to testify before the United States Congress. The downtrend also came right after a major slump of technology shares on Wall Street, which some analysts linked to the unloading of the traders' crypto assets.

Bitcoin was down 10.45% in the last 24 hours, selling for $48,017.15 at 11:56 am ET, while Ether plunged 5.1% at the same time, selling for $3,996.03.

Baha Breaking News (BBN) / BU