Bitcoin dipped to a six-week low Tuesday, as investors monitored warnings from regulators and reports of an escalated crackdown on the cryptocurrency market in China.
Other major digital currencies including ethereum and ripple were also seen falling significantly.
The price of the bitcoin fell below $12,000 for the first time since December 6, according to CoinDesk data. It was trading at $11,685.24 a coin at about 3:33 a.m. ET, and was down more than 10 percent from an hour earlier. CoinDesk’s bitcoin price index tracks prices from cryptocurrency exchanges Bitstamp, Coinbase, itBit and Bitfinex.