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Up in five of the last seven sessions, Bitcoin has been steadily climbing higher, breaking above key levels that bulls said precipitate a further rally. That includes Friday, when the coin continued its uptrend, rising as much as 4.9% to $46,679. And its up roughly 50% since hitting a recent low that had taken it below $30,000 at one point this summer. ....
What turbocharged this week’s crazy cryptocurrency meltdown? SECTIONS Last Updated: May 20, 2021, 02:54 PM IST Share Synopsis Bitcoin dropped as much as 31% Wednesday to near $30,000, and Ether was 44% down at less than $2,000 at one stage. While both have recouped some of the losses, those crashes spread plenty of pain across crypto assets. Reuters “What causes such deeper pullbacks are a case of system overload, liquidations, and such factors,” said Vijay Ayyar, head of Asia Pacific at Luno Pte. Related Liquidations and leverage appear to have turbocharged this week’s cryptocurrency meltdown. Bitcoin dropped as much as 31% Wednesday to near $30,000, and Ether was 44% down at less than $2,000 at one stage. While both have recouped some of the losses, those crashes spread plenty of pain across crypto assets. There were $9.4 billion of liquidations in the 24 hours through 9 a.m. Thursday in Singapore, as more than 887,000 traders liq ....