The new year is off to a rough start for crypto investors as digital assets continue to retreat from their recent highs.
Bitcoin tumbled 5% on Tuesday to around $97,000, while crypto exchanges closed out $205 million worth of open futures contracts within the span of one hour to prevent further losses. In the last 24 hours, the overall crypto market has lost 6% of its total market cap, dragged down by Bitcoin’s decline after it had initially soared after the November election.
