Bitcoin Crash: Why BTC Fell to $75,568, How Low It Could Go and How to Hedge

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin lost more than $5,000 in under a day as a Nasdaq chip rout wiped out leveraged longs. The reasons, the levels that count now, what 23 earlier 5 percent days show, and how to earn and hedge in this market.Symbol image, created with AIAdd as a preferred source on GoogleFollow on Google NewsBitcoin fell from $80,962 late on Wednesday to $75,568 on Thursday afternoon, a drop of 6.7% in about 17 hours. It traded at $76,118 at 17:10 UTC. The trigger was a sell-off in chip and AI stocks that pushed the Nasdaq into a correction and forced leveraged crypto traders out of their positions. The move wiped out the jump that followed the US midterms, which we covered in our piece on Bitcoin above $80,000. Here is what happened, which levels count now, and what you can do in this market, from earning on falling prices to hedging what you hold. Why Is Bitcoin Crashing? Four Reasons Behind the Drop The short answer: the selling came from Wall Street and leverage amplified it. Bitcoin its...