Analysts Speculate Leveraged Liquidations Caused Market Crash

The price of Bitcoin fell as much as 30% Wednesday, continuing a significant sell-off in the cryptocurrency markets that began a few days ago. The digital currency declined as low as $30,001.51 as the selling intensified before paring some of those losses. The cryptocurrency hasn't traded at such value since late January. Elon Musk drama and China Banking Association warning member banks of risks associated with digital currencies have contributed to the plunge. However, analysts say that over-leveraged positions being…