Bitcoin Falls as $550 Million in Risky Crypto Bets Wiped Out

Key Summary

Cryptocurrencies plummeted on Wednesday as forced selling swept across digital-asset venues, driven by broader market jitters and risk aversion. Bitcoin fell 2.4% to $83,583, while Ethereum slid 3.9% to $2,594. The retreat accelerated as leveraged bets were unwound, with around $550 million in crypto positions liquidated.