(ZEROHEDGE) – After coming within inches of $65,000 last week, Bitcoin has suffered two significant 'liquidation' events and broke back below $50,000 overnight for the first time since March 8th.
Various factors were being pitched as the impetus for the latest round of price losses, these including CME futures now trading below spot price as bearishness enters, as well as a negative Coinbase premium.
Bitcoin is down around 27% from its highs as traders were unsure if Biden's newly-leaked capital gains tax increases were a trigger for selling, or a positive for the crypto-lending business and implicitly supportive of bitcoin.
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