Bitcoin tanks more than 10% to below $11,000; South Korea announces details on crypto tax

Bitcoin and other major digital currencies dropped sharply Monday morning.

Bitcoin briefly tumbled to a low near $10,050 on Coinbase Monday afternoon ET, marking a loss of about 11 percent over the last 24 hours. Bitcoin traded near $10,192 as of 4:28 p.m. on Coinbase, the leading U.S. marketplace for buying and selling major digital currencies.

Ethereum fell below the psychologically key $1,000 level again and traded about 10 percent lower near $943, according to CoinMarketCap.

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