Bitcoin has erased its summer rally, dropping over 20% from last month’s record and falling below $100,000 for the first time since June. A steep wave of October liquidations drained bullish positions, leaving traders sidelined and futures open interest depressed. Ether and altcoins also tumbled sharply, with many tokens down over 50% this year, as Bitcoin underperforms equities and loses its hedge appeal.
​Bitcoin has erased its summer rally, dropping over 20% from last month’s record and falling below $100,000 for the first time since June. A steep wave of October liquidations drained bullish positions, leaving traders sidelined and futures open interest depressed. Ether and altcoins also tumbled sharply, with many tokens down over 50% this year, as Bitcoin underperforms equities and loses its hedge appeal. by Soban News (international And National News)
