Share this article
Bitcoin's Price Is Down More Than $500 Today
Continued market turmoil traced to Chinese regulatory pressure has sent bitcoin's price tumbling more than $500.
By Stan Higgins
Updated Sep 14, 2021, 1:56 p.m. Published Sep 14, 2017, 5:48 p.m.
The price of bitcoin fell more than $500 today as market turmoil continues in the aftermath of Chinese exchange BTCC's trading stoppage announcement.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The CoinDesk Bitcoin Price Index (BPI) has hit a fresh low of $3,350.17 – roughly $523 down from the day's open of $3,874.26. When accounting for the day's price high of $3,923.98, that figure swells to approximately $573.
At press time, the price is at $3,363.25, according to the BPI.
Shanghai-based BTCC announced that it would would cease offering trading services on September 30, citing statements issued earlier this month by the People's Bank of China and other regulatory bodies in the country. BTCC's move came just a day after China-based BitKan announced that it would halt its over-the-counter (OTC) trading offering.
The new move downward comes hours after bitcoin's price fell below $3,500, falling below the 50-day moving average for the first time since July 20.
Many other cryptocurrency markets are experiencing sharp declines today, according to data from CoinMarketCap. Of the top-10 cryptocurrencies, litecoin has seen the heaviest decline, falling in the last 24 hours by more than 24% at time of writing with much of the volume being seen in Chinese exchange OKCoin and Huobi.
The collective cryptocurrency market capitalization has fallen below $120 billion for the first time in a month, per CoinMarketCap, hitting roughly $114.4 billion at press time.
Image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin drifts lower as $81.3k emerges as the market’s key fault line: Asia Morning Briefing
With large caps still tracking bitcoin and high-beta assets already weakened, Glassnode’s True Market Mean has become the line investors are watching most closely.
What to know:
- Bitcoin's True Market Mean at $81.3k is a critical level, with potential market-wide implications if breached.
- Large-cap crypto assets remain closely correlated with bitcoin, reinforcing its role as the market's anchor.
- Gold prices have surged to record highs, driven by central bank buying and geopolitical risks, with forecasts suggesting further increases.
Top Stories
