The price of bitcoin fell more than 5% Wednesday as long-term holders took some of their profits a week after the cryptocurrency hit its all-time high. Bitcoin fell sharply at about 3 a.m. EST and last traded 4.9% lower at $59,022.07, according to Coin Metrics. The price of ether fell 5% to $4,006.61. The move downward may come as little to surprise to investors, some of whom expected a slight pullback after the market rallied behind bitcoin as enthusiasm around the launch of the first bitcoin futures ETF from ProShares last week. "This correction is due," said Noelle Acheson, head of market insights at Genesis. "There was much more demand in the initial days before the ETF than I expected which is good news. It has totally leveled off but we'll see what happens when the VanEck ETF starts trading and what happens over the next few days, bec . . . read the full article here.
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DATE: today, a week, Wednesday, last week, this April, December 2017, the initial days, the next few days
TIME: about 3 a.m. EST, the last 24 hours
MONEY: 4,006.61, 59,022.07
PERCENT: 5%, 28%, 4.9%, more than 5%