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Bitcoin is now the most-crowded trade, surpassing tech which spent more than a year in the top spot

In this photo illustration, a visual representation of digital cryptocurrency Bitcoin (BTC) is arranged on a circuit board of a hard drive.

Yuriko Nakao | Getty Images

After a dizzying run that saw its price more than quadruple over the past year, professional investors are now looking at bitcoin as a potential trouble spot.

In fact, the digital currency has replaced even high-flying technology stocks as the most crowded trade on the market, according to the closely followed Bank of America Global Fund Manager Survey for January.