{"id":16381,"date":"2021-12-07T15:46:13","date_gmt":"2021-12-07T20:46:13","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=16381"},"modified":"2021-12-08T09:30:19","modified_gmt":"2021-12-08T14:30:19","slug":"bitcoin-sinks-deeper-after-brutal-weekend-crash","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/bitcoin-sinks-deeper-after-brutal-weekend-crash\/","title":{"rendered":"Bitcoin Sinks Deeper After Brutal Weekend Crash"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Bitcoin, the world&#8217;s most popular cryptocurrency, slipped further on Monday after falling 22% over the weekend, and had fallen nearly 5% on Monday as it fluctuated between $48,000 and $49,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin last fell 1.1% to $48,900. Ether, the world&#8217;s second largest cryptocurrency, also recorded a steady decline, with crypto down another 3.1% to $4,070 by Monday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traders said the weekend drop was due to a concentrated shift away from riskier assets in traditional markets amid fears of the Omicron variant, coupled with lower trading liquidity, which often occurs over the weekend.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to crypto-data platform Coinglass, the total number of futures contracts held by market participants at the end of the day was $16.5 billion, up from $23.5 billion on Thursday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sean Farrell, head of digital asset strategy at Fundstrat, shared his view on the latest slip-up, highlighting the &#8220;outsized correlation to macro uncertainty,&#8221; compared to the rest of the cryptocurrency market.<\/p>\n\n\n<p>For more information, read the <a href=\"https:\/\/www.reuters.com\/technology\/bitcoin-below-50000-early-october-levels-after-weekends-battering-2021-12-06\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin, the world&#8217;s most popular cryptocurrency, slipped further on Monday after falling 22% over the weekend, and had fallen nearly 5% on Monday as it fluctuated between $48,000 and $49,000.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[124],"class_list":["post-16381","post","type-post","status-publish","format-standard","hentry","category-todays-news","tag-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/16381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=16381"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/16381\/revisions"}],"predecessor-version":[{"id":16437,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/16381\/revisions\/16437"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=16381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=16381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=16381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}