(Bloomberg) — Cryptocurrencies fell on Wednesday as a wave of forced selling swept across digital-asset venues, with broader market jitters further weighing on risk appetite.
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Bitcoin, the largest token, fell as much as 2.4% to $83,583, while Ether slumped 3.9% to $2,594. Other smaller digital assets also fell, with XRP and Solana down 4.2% and 3.3%, respectively.
The retreat accelerated as leveraged bets were unwound, with around $550 million in crypto positions liquidated over the last 24 hours, according to Coinglass data.
“The dip in crypto prices serves as a leverage flush instead of a downward trend, stemming from crowded bets on higher prices being…
