Bitcoin had topped $62,700 earlier in the day, but recently was down 6.5% from 24 hours earlier. Amid the rout, it got as low as $58,240, the lowest price since Aug. 19. Ether traded as high as $2,700 earlier Wednesday, but recently fetched less than $2,500.
It was not immediately clear what sparked the sell-off. The sudden downturn triggered $313 million in liquidations of leveraged crypto derivatives positions over the past 24 hours, the biggest washout since Aug. 5 crash,token was actually up nearly 5% over the past 24 hours, after falling precipitously on the news that Telegram founder Pavel Durov had been arrested in France on various charges.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: