(Bloomberg) — Bitcoin weakened to its lowest level in more than two weeks as a pullback in demand amid turmoil in the Middle East prompted traders to cut back their positions.
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The original cryptocurrency fell as much as 2.9% to $76,009 on Monday, the lowest since April 30, before paring some losses. It was hovering around $77,000. Other tokens, including Ether and Solana, also fell.
Bitcoin’s price slumped as cryptocurrencies across the board saw nearly $500 million in liquidations of bullish bets within 15 minutes during early Asia trading on Monday, according to Coinglass data. More than $800 million in bullish positions were unwound in the past 24 hours, Coinglass data show.
The token has…
