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Bitcoin Falls the Most in a Month Following Red-Hot Rally
Bitcoin’s scorching rally lost steam on Wednesday amid widespread risk aversion, falling the most in a month. The world’s biggest cryptocurrency by market value slumped 3.1% to $13,201 as of 2:40 p.m. in New York. Alternative coins including Litecoin and Monero also posted declines, while the Bloomberg Galaxy Crypto Index dropped 3.7%. “This broad, risk-aversion-trading session is triggering widespread panic selling, which is seeing every risky asset, like gold and Bitcoin, really start to plummet,” said Edward Moya, a senior market analyst at Oanda Corp. Wednesday’s high of $13,857 only narrowly exceeded ... (full story)
