Bitcoin extends retreat from record high to hit lowest in 20 days

Bitcoin fell to its lowest since February 8 in thin trade on Sunday, down 3.7 per cent from Friday’s close as the pullback from a record high near $60,000 continued.

The world’s biggest and best-known cryptocurrency has risen as much as 70 per cent since the start of the year, hitting a record high of $58,354.14 one week ago amid increasing confidence that it will become a mainstream investment and payments vehicle.