Following a wave of leveraged cryptocurrency derivatives liquidations that drove values plummeting over night, cryptocurrencies continued their losing streak on Wednesday.
The price of bitcoin dropped by 3.2% to $60,026.37 last time. Overnight, it fell below that crucial $60,000 mark for a little while. Ether dropped by almost 2% to $2,525.26.
“Leverage drove liquidation was triggered by a sharp decline in cryptocurrency markets,” stated Steven Lubka, Swan Bitcoin’s head of private customers and family offices.
“The shift looks to have started with a significant decline by Ethereum, which has been underperforming bitcoin all year.”
Source (CNBC)
