After a multi-year dry spell, leverage is making a strong comeback in cryptocurrencies, helping fuel a new bull run on Bitcoin and a new wave of concerns.
The largest cryptocurrency jumped as much as 13% to $63,968 on Wednesday, the biggest intraday rise since last March, before cutting the rise by more than half. It was the fifth straight day of progressively higher prices, driven in part by optimism about inflows from exchange-traded funds approved last month.
