The world's most heavily traded cryptocurrency, Bitcoin plunged as low as USD 30,202 per coin from a high of nearly USD 44,000 in the past 24 hours, according to data from Coindesk. Bitcoin was already fell recently after Tesla (TSLA) CEO Elon Musk said he was wary of its environmental impact. The recent collapse came after China took more steps to crack down on the digital coins. The latest crash shook out bullish leverage from cryptocurrency derivatives markets, leading to more than $8 billion in position liquidations due to margin calls, Reported by Omkar Godbole.
Bitcoin plunges below USD 40,000, margin call leading to more than USD 8 Bn in position liquidations
InternationalMay 19, 2021