Bitcoin Falls To $60,000 As Zcash Bug Rocks Crypto

Bitcoin briefly fell below $60,000 on Friday, extending its weekly loss to nearly 20%. A 40%-plus plunge in Zcash occurred after Shielded Labs disclosed a years-old bug that could have allowed undetected counterfeit ZEC creation. Bitcoin is now perfectly correlated with stocks, which were down nearly 4% on Friday. The bug's disclosure has caused market volatility, with some investors describing Bitcoin as 'swallowing broken glass'.