Bitcoin prices spiralled lower on Monday, temporarily dipping below $85,000 as investors continue a selloff that began in October.

The cryptocurrency dropped more than 8% in the last 24 hours alone, falling to $84,096 as of 11:15 a.m. on Monday, according to data aggregator CoinGecko. Bitcoin has lost roughly a third of its value since Oct. 6, when it hit a record high of nearly $125,000. The slump has wiped out more than $750 billion in the digital currency's total market value, CoinGecko shows.

Bitcoin's plunge pulled other crypto-related stocks down with it, including mobile trading platform Robinhood, which tumbled 3.5%, and Coinbase, which lost 4.2%. Other leading digital currencies, including ethereum and XRP, also sank.

Why are crypto prices sliding?

Experts who spoke to CBS New

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