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Behind Bitcoin's recent slide: Imploding bets and forced liquidations


Behind Bitcoin’s recent slide: Imploding bets and forced liquidations
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(REUTERS)
Alexander Osipovich,
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Bitcoin’s rally appears to be running out of steam, at least for now.
The digital currency dropped again Friday, briefly falling below $50,000 a decline of more than 20% from its record of $64,829 on April 14.
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Bitcoin’s high coincided with the stock-market debut of Coinbase Global Inc., the biggest U.S. cryptocurrency exchange. The two events marked the pinnacle of a heady rally for cryptocurrencies that began last year. Bitcoin’s price more than tripled in 2020 and doubled to start 2021 before slipping. ....

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