{"id":47022,"date":"2021-04-26T01:47:48","date_gmt":"2021-04-26T05:47:48","guid":{"rendered":"https:\/\/www.opensource.im\/uncategorized\/behind-bitcoins-recent-slide-imploding-bets-and-forced-liquidations-the-wall-street-journal.php"},"modified":"2021-04-26T01:47:48","modified_gmt":"2021-04-26T05:47:48","slug":"behind-bitcoins-recent-slide-imploding-bets-and-forced-liquidations-the-wall-street-journal","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/bitcoin\/behind-bitcoins-recent-slide-imploding-bets-and-forced-liquidations-the-wall-street-journal.php","title":{"rendered":"Behind Bitcoins Recent Slide: Imploding Bets and Forced Liquidations – The Wall Street Journal"},"content":{"rendered":"

Bitcoins rally appears to be running out of steam, at least for now.<\/p>\n

The digital currency dropped again Friday, briefly falling below $50,000a decline of more than 20% from its record of $64,829 on April 14. <\/p>\n

Bitcoins high coincided with the stock-market debut of Coinbase Global Inc., the biggest U.S. cryptocurrency exchange. The two events marked the pinnacle of a heady rally for cryptocurrencies that began last year. Bitcoins price more than tripled in 2020 and doubled to start 2021 before slipping.<\/p>\n

The rally cratered last Saturday when bitcoin suddenly fell as much as 17% to $52,149with half the decline occurring in about 20 minutes. Although it recovered some of those losses by Monday, the price has steadily declined, sitting Friday afternoon at $50,620.<\/p>\n

Bitcoins momentum lately has been showing signs of flagging, said Michael Oliver of the research firm Momentum Structural Analysis. Since bitcoin crossed $60,000 in March for the first time, its pace of gains has slowed and it has traded in a relatively narrow range. That was a sign, he said, that the rally could falter, as it finally did over the weekend. We think bitcoins broken for the time being, he said, pointing to technical trend lines.<\/p>\n

<\/p>\n

Read the original here:
\nBehind Bitcoins Recent Slide: Imploding Bets and Forced Liquidations - The Wall Street Journal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoins rally appears to be running out of steam, at least for now. The digital currency dropped again Friday, briefly falling below $50,000a decline of more than 20% from its record of $64,829 on April 14. Bitcoins high coincided with the stock-market debut of Coinbase Global Inc., the biggest U.S. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24697],"tags":[],"class_list":["post-47022","post","type-post","status-publish","format-standard","hentry","category-bitcoin"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/47022"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=47022"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/47022\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=47022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=47022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=47022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}