On Wednesday, markets started to slide in early Asian hours amid profit-taking from last week’s rally and a flush of levered bets on higher prices. Overall capitalization dropped over 15% in the past week, as reported, with some traders stating that bitcoin showed signs of a technical downtrend – which indicated further losses in the offing.
Bitcoin Below $60K Could Trigger 'Panic' Selling, Crypto Analyst Says
One trader said recent declines are likely related to miners' asset sell-offs and fears of tighter regulation of cryptocurrencies. Source...