Bitcoin Drops 5%, Slipping Below $50K on Leverage Washouts

Posted on by American Coins & Gold

Bitcoin Drops 5%, Slipping Below K on Leverage Washouts
Bitcoin was the big loser in cryptocurrency markets on Wednesday, down 5% on the day as investors weighed concerns about the Covid-19 omicron variant.The world’s largest cryptocurrency was trading above $51,000 on Tuesday and began to drop below the $50,000 mark at around 10:30 a.m. coordinated universal time (UTC). As of press time bitcoin (BTC) was changing hands around $49,645. Ether (ETH), the second largest cryptocurrency by market capitalization, was down 3% in the last 24 hours.European stock markets wavered after witnessing a sharp rise on Tuesday as investors grew more cautiously optimistic after studies showed vaccines provide partial shield…