The volatile bitcoin, which temporarily fell below the $60,000 threshold for the first time this month, fell 5.2% to $60,598.

Bitcoin falls more than 4% to approach $60,000. The cryptocurrency leader fell back below $60,000 for the first time since November 1. Bitcoin fell to $60,350, its lowest level for the day, bringing the losses suffered since hitting a record high of $69,000 on November 10 to more than 11%. Ether, the second-largest cryptocurrency by market value, was down 4.5% at $4,355.4.

Bitcoin's value has more than doubled since June, driven by mainstream adoption of cryptocurrencies and, more recently, the launch of futures-based bitcoin tradable funds in the United States.