header banner
Default

Bloomberg: Is this person a robot?


Bitcoin’s Largest Decline in Four Months Frays Startling Rally

VIDEO: The World's Smartest Robot Is Living in Vancouver
Bloomberg Originals
  • Crypto starts the week on back foot ahead of Fed rate meeting
  • Market’s 2023 surge raised risk of speculators taking profits

Cryptocurrency ATMs in Hong Kong.

Photographer: Paul Yeung/Bloomberg

Updated on

Bitcoin posted its steepest drop in almost four months as traders moved to lock in profits following a more than 150% rally this year, triggering large liquidations of bullish bets.

The largest token sank as much as 7.7% on Monday, the biggest intraday decline since Aug. 18. It pared some losses to trade 7.5% lower at $40,524 at 2:32 p.m. in New York. Most major cryptocurrencies fell, with an index of the largest 100 digital assets sliding the most since November.

Up Next

Bitcoin’s Largest Decline in Four Months Frays Startling Rally

Sources


Article information

Author: Kathryn Pena

Last Updated: 1702686003

Views: 1069

Rating: 4 / 5 (62 voted)

Reviews: 88% of readers found this page helpful

Author information

Name: Kathryn Pena

Birthday: 1997-10-23

Address: 434 James Islands, New Michaelshire, NY 18280

Phone: +3674174980075908

Job: Video Game Designer

Hobby: Board Games, Robotics, Badminton, Puzzle Solving, Running, Magic Tricks, Backpacking

Introduction: My name is Kathryn Pena, I am a steadfast, esteemed, fearless, sincere, dear, persistent, cherished person who loves writing and wants to share my knowledge and understanding with you.