Bitcoin price falls below $50,000

Apr 23, 2021 | The Block News | 0 comments

bitcoin-price-falls-below-$50,000

Bitcoin’s price has dropped below $50,000 on early Friday UTC time.

The price continued to decline to below $49,000 and is changing hands around $49,500 as of writing, which represents an 8.46% drop over the past 24 hours on Coinbase Pro.

The price drop follows news in the U.S. hours that President Joe Biden was said to propose increasing tax for the wealthy on capital-gains by as much as 100%. 

Data from Bybt.com shows nearly $500 million worth-of bitcoin long positions have been liquidated over the past one hour due to the price slump.

Overall, around $1.6 billion in crypto futures positions have been liquidated during the same time.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

Thai Public Company Brooker Group Invests $6.6 Million in Bitcoin

Thai Public Company Brooker Group Invests $6.6 Million in Bitcoin

The Brooker Group has reportedly become the first publicly listed company in Thailand to hold bitcoin on its balance sheet. The company has disclosed that it has bought 122.3158 bitcoins worth $6.6 million or 200 million baht. Thai Public Company Invests in Bitcoin...

What the heck are tokenized stocks? And are they securities?

What the heck are tokenized stocks? And are they securities?

Quick Take Tokenized versions of shares in publicly listed companies have become popular products on a few crypto exchanges. How do they work? And why are regulators concerned about them? This feature story is available to subscribers of The Block Daily. You can...

Walking on sunshine: Top crypto summer vacation destinations in 2021

Walking on sunshine: Top crypto summer vacation destinations in 2021

As vaccinations continue to be rolled out globally, more countries are starting to open up their borders to tourists. Even though the ongoing coronavirus pandemic has yet to fully recede, an increasing number of countries are beginning to open up their borders to...

Pin It on Pinterest

Share This