Bitcoin rout wipes out US$10 billion in leveraged positions in US$500 billion sell-off, and counting

Source: South China Morning PostCryptocurrency markets are stabilising after a US$500 billion bitcoin wipeout snuffed out a slew of speculative excesses that had been building for months.Signals across the virtual-currency complex show leveraged positions are getting flushed out while dip-buyers are emerging – helping fuel a return toward US$40,000 for the world’s biggest token.As the dust settles following the Wednesday crash, Bybt data shows liquidations have totalled roughly US$10 billion since Wednesday. Outstanding…Read More

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