New volatility for bitcoin ends summer slumber for crypto investors

News Snapshot:

A new wave of volatility is rippling through the crypto world, ending a period of recent summer slumber for investors in digital currencies. The price of bitcoin (BTC-USD) tumbled as much as 9% Thursday and briefly dropped below $26,000, the biggest one-day change in the world’s largest digital currency this year. It is down 8% over the last 24 hours as of 11:30 a.m. New York time Friday. Investors sold $489 million in bitcoin futures over a 24-hour period, the largest single-day liquidation since June 2022, according to data provider Coinalyze. Market watchers grasped at several theories for the sudden...