Bitcoin drops below $6,800, hitting a six-month low

Bitcoin prices fell sharply this morning from $7,700 to below $6,800—an almost 12% drop— hitting a six-month low.
Data from Rekto shows that derivatives exchange BitMEX saw more than $388 million worth of XBT Perpetual Swap contracts liquidated over the past 24 hours, which means that the exchange system has automatically closed a large number of bitcoin levered positions. By publication time, Bitcoin prices have clawed their way back above $7,000.