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Bitcoin Slumps to 3-Month Low Below $6K
Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.
Updated Sep 13, 2021, 7:32 a.m. Published Feb 6, 2018, 8:30 a.m.
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Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.
Prices on CoinDesk's Bitcoin Price Index (BPI) fell as low as $5,967.34 at 07:59 UTC – the lowest level since Nov. 13. As of writing, the world's largest cryptocurrency by market capitalization is changing hands at $6,156, down around 22 percent on a 24-hour basis.
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The sell-off has been significant, as indicated by the $1,000 drop seen between 00:45 to 05:00 UTC. Further, during the same time period, the market capitalization of bitcoin dropped more than $11 billion to $106 billion. The total market capitalization of all cryptocurrencies has also fallen to $282.40 billion – the lowest level since Nov. 26.
Meanwhile, the remaining top 10 currencies by market cap are down at least 20 percent each. NEO has depreciated by 36 percent in the last 24 hours, according to data source CoinMarketCap and is the biggest loser in the top 10.
In the top five, ethereum's ether token is down 29 percent, Ripple's XRP is down 24 percent, bitcoin cash has lost 28 percent and cardano is down 24.
Chart on phone image via Shutterstock
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Rollercoaster bitcoin price moves end up liquidating $1.7 billion in bullish crypto bets
More than $1.7 billion in leveraged positions were liquidated in 24 hours as bitcoin fell to $81,000, with long bets accounting for nearly all the damage amid macro jitters and Fed chair speculation.
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- More than $1.68 billion in leveraged crypto positions were liquidated in 24 hours, with about 267,000 traders forced out of trades.
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