Bitcoin Breaks Below $7K to Fall to 50-Day Low
Bitcoin has dropped below $7,000, reaching a month-low since Feb. 7 while the cryptocurrency market is seeing a major sell-off.
Support at $7,900 lasted about one-half-hour before the price went southward once more, sitting at $7,800 as of writing.
Beginning at 17:50 UTC and lasting until 18:20 UTC, BTC witnessed a large pullback from $10,200 to $9,600.
Fifty-four percent of bitcoin addresses are making money on their investments despite the cryptocurrency's drop to six-month lows, according to data from IntoTheBlock.
The price of bitcoin has fallen below $4,000 for the first time since September 26, 2017 and is now down 30 percent in the last 7 days alone.
MV Index Solutions, a subsidiary of investment management firm VanEck, has launched a new index tracking the OTC performance of bitcoin.