Bitcoin Falls Below $70,000 for First Time Since August — WSJ

By Alexander OsipovichBitcoin has tumbled around 6% over the past 24 hours as Nvidia-driven market turmoil and fears of a Fed rate hike dampen investor interest in cryptocurrencies.The digital token was recently trading at about $69,000. It last traded below the $70,000 level on August 20, according to Dow Jones Market Data.Bitcoin, which often moves in synch with technology stocks and other speculative assets, took a hit this week after hotter-than-expected U.S. inflation data reignited talk of Fed tightening and the drama over Nvidia's ousted CEO shook the tech sector.Index provider MSCI also dealt a blow to bitcoin when it ruled that Strategy, the world's largest corporate holder of the digital token, would no longer be part of its global benchmarks from the end of this month.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).