Bitcoin extended its decline on Saturday, and has shed more than 50% from its record high in November while adding further momentum to the meltdown in cryptocurrencies. “Margin positions being liquidated caused a wave of additional sell pressure, as assets that had been held as collateral were forcibly sold to pay for margin loans,” said Hayden Hughes, chief executive officer at Alpha Impact in Singapore. Bitcoin’s decline from its peak has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market.
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Sat, 01/22/2022 - 10:23am
Topics: november ldquo;margin hayden hughes alpha impact singapore bitcoin&rsquo bespoke investment group 042.78 saturday solana cardano coinbase ldquo;i federal reserve&rsquo bloomberg news biden with andrew davis bitcoin lost record high assets decline market digital fell cryptocurrencies aggregate
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