
Bitcoin loses $10,000, or 17%, in 24 hours after overnight rout cnbc.com
From a 24-hour period spanning Friday morning to Saturday morning, bitcoin's price went from about $57,000 to $47,000, losing $10,000, or more than 17%.
Report StoryFrom a 24-hour period spanning Friday morning to Saturday morning, bitcoin's price went from about $57,000 to $47,000, losing $10,000, or more than 17%.
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“The evidence points to this being yet another derivative-induced selling event,” wrote J.C. Parets, chief market strategist for All Star Charts technical research, in a note Saturday morning. “The September flash crash had the same drivers as this selloff — leverage was flushed from the system in a violent fashion, which later enabled the market to eventually move higher toward a new all-time high in October.”