Crypto altcoins lead slide while Bitcoin liquidations lncrease

Crypto traders are taking a more defensive posture amid speculation long-term holders are offloading tokens with Bitcoin trading just below all-time highs.

The largest cryptocurrency by market value was down about 2% to $116,200 on Friday, or around 5.7% below the record of more than $123,000 reached on July 14. Smaller tokens fared worse, with XRP and Dogecoin both down more than 5%.

The pullback has cooled expectations that so-called alternative digital currencies are poised...