Bitcoin
$44,521.79-7.55%
Ethereum
$3,117-8.75%
XRP
$0.952115-11.76%
Cardano
$2.11-10.91%
Polkadot
$29.95-12.31%
Stellar
$0.288388-10.87%
Dogecoin
$0.215695-10.21%
Chainlink
$25.02-11.87%
Uniswap
$22.42-8.23%
Polygon
$1.21-10.70%
Litecoin
$163.11-9.55%
Bitcoin Cash
$566.12-10.72%
Cosmos
$38.98-1.12%
Wrapped Bitcoin
$44,573.17-7.60%
Algorand
$1.75-14.94%
Filecoin
$77.95-6.92%
The Graph
$0.733513-11.76%
Tron
$0.095461-10.35%
Ethereum Classic
$51.23-9.53%
Aave
$314.34-11.08%
Tezos
$5.57-13.49%
NEO
$43.68-12.43%
EOS
$4.50-13.63%
Monero
$240.14-12.10%
IOTA
$1.38-14.78%
BitTorrent
$0.003514-10.63%
Bitcoin SV
$146.33-7.03%
Maker
$2,549.54-11.10%
Waves
$24.40-15.01%
Dash
$177.57-11.33%
Decred
$129.77-7.96%
Decentraland
$0.729551-11.26%
NEM
$0.163676-11.37%
ICON
$1.62-15.75%
Zcash
$122.49-12.60%
OmiseGO
$8.49-12.89%
Qtum
$10.90-13.02%
NuCypher
$0.290864-13.72%
Yearn Finance
$30,580.54-9.20%
Bitcoin Gold
$58.09-11.89%
Paxos Standard
$0.999708-0.03%
Basic Attention Token
$0.679360-9.42%
0x
$0.957005-13.37%
Bancor
$3.71-8.76%
Band Protocol
$8.10-13.74%
Siacoin
$0.016319-13.83%
Ren
$0.796960-16.27%
Kava.io
$5.45-12.30%
Fetch.ai
$0.679269-16.37%
Nano
$4.89-14.07%
Loopring
$0.418521-9.55%
Storj
$1.19-13.55%
Numeraire
$42.35-7.80%
Lisk
$3.20-13.53%
Civic
$0.444053-15.42%
Orchid
$0.335951-9.29%
PAX Gold
$1,766.77-0.41%
Augur
$23.01-12.16%
Aragon
$5.44-16.41%
Enzyme
$108.85-9.36%
district0x
$0.157891-11.16%
Kyber Network
$1.57-12.79%
SingularDTV
$0.001400-2.34%
Tether
$0.999838-0.06%
USD Coin
$0.999882-0.03%
Dai
$1.00-0.01%

Bitcoin Dips Below $8K as Price Sheds $700 in Two Hours

Bitcoin has once again fallen beneath $8,000 amid a sharp sell-off that saw prices drop to as low as $7,778 according to Coindesk data.

Jun 4, 2019 at 12:13 a.m. UTC
Updated Sep 13, 2021 at 9:16 a.m. UTC

Bitcoin has once again fallen beneath $8,000 amid a sharp sell-off that saw prices drop to as low as $7,778 according to Coindesk data.

At 23:00 UTC late Monday evening, the world’s largest cryptocurrency by market cap began to fall sharply, enduring over a $700 loss in value on the back of strong volume.

For several days now BTC has failed to rise above and firmly closeout $8,800 leading to a retest of prior supports as it struggled to pick up a bid.

Down 8.17 percent, bitcoin is struggling find a footing just beneath the $8,000 psychological price tag as the intensity in the pullback continues on high volatility.

Notably, the sell-off was also accompanied by a large uptick in 24-hour trading volumes to a 24-hour high of $21.5 billion, according to data from CoinMarketCap.

However, its “Real 10” volume – a metric that takes into account trading volume from exchanges reporting honest volume figures as identified in a report by Bitwise Asset Management – currently stands at $21 billion, according to Messari.io.

Meanwhile, other highly ranked cryptocurrencies like ETH, BCH, LTC, and BNB have dropped 5 to 12 percent each on a 24-hour basis, while EOS suffered the largest drawdown in the top 10, dropping 12.4 percent according to data at CoinMarketCap.

What’s more, the total market capitalization has fallen $16 billion over a 24-hour period, while the market capitalization of altcoins is down $7 billion, a sign that investors are becoming wary of overbought prices.

Disclosure: The author holds no cryptocurrency at the time of writing.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...