Bitcoin · New York · Federal Reserve (FED) · Bitcoin Magazine
Over the past 24 hours, nearly $178 million in long bets on the bitcoin price have been closed
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Bitcoin’s sharp drop comes as U.S. mortgage rates climb for a seventh straight week to their highest level in nearly three years.
Key facts
- The largest cryptocurrency was trading for $83,062, down nearly 4% over a 24-hour period Wednesday morning in New York, after at one point dropping as low as $82,823
- Over the past 24 hours, nearly $178 million in long bets on the bitcoin price have been closed, according to Coinglass
- Brent crude jumped above $102 after Iran stepped up attacks on vessels in the Strait of Hormuz
- The price of bitcoin is down nearly 4% as most assets experience a selloff
Summary
The price of bitcoin is down nearly 4% as most assets experience a selloff. Bitcoin’s price has plunged, with other assets, as oil surges and the cost of borrowing increases. The largest cryptocurrency was trading for $83,062, down nearly 4% over a 24-hour period Wednesday morning in New York, after at one point dropping as low as $82,823. Over the past 24 hours, nearly $178 million in long bets on the bitcoin price have been closed, according to Coinglass.