Bitcoin Falls To Lowest Since June As Risk-Off Mood Hits Crypto (Image: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Bitcoin has wiped out its summer rally, giving back gains made during Wall Street’s euphoric embrace and a surge in institutional buying.

The original cryptocurrency fell as much as 3.1% to $103,539 as on Tuesday morning in New York, the lowest level since June 23. Ether slipped as much as 3.9% and several so-called altcoins posted similar declines, bringing losses for many of the tokens to more than 50% this year.

The turning point came in mid-October, when a brutal wave of liquidations wiped out more billions in bullish positions. Since then, traders have stayed on the sidelines. Open interest in Bitcoin futures remains far below pre-crash

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