Crypto market faces $US1 billion liquidation as investors retreat
Bitcoin briefly tumbled below $US67,000 as negative momentum deepened across cryptocurrencies, driven by vanishing marginal demand and this week’s volatility in tech equities along with precious metals.
The token was 8 per cent lower to $US66,467 at 12.55pm New York trading. The slide is accelerating even as gold and silver retreat from recent highs that had prompted speculative traders to pivot from digital assets. Bitcoin is down about 45 per cent from its October high, as big buyers like ETFs and digital-asset treasuries beat a retreat.
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Bloomberg
