Share this article
Bitcoin Plunges $403 in 1 Hour to Lowest in a Month
The price plunge came after reports traders were selling an elevated level of bitcoin to exchanges for potential liquidation.
Updated Sep 14, 2021, 9:51 a.m. Published Sep 3, 2020, 1:00 p.m.
Bitcoin tumbled about $403 in an hour early Thursday, deepening a two-day sell-off that pushed the largest cryptocurrency to its lowest point in a month.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The price was down 4.9% on the day to $10,838 as of 13:09 coordinated universal time.
- The move down came after CoinDesk reported that exchange platforms were witnessing elevated inflows of bitcoin, potentially a sign that some investors were preparing to liquidate some of their holdings.
- "Inflows surged as people rushed to sell at near $12,000," Philip Gradwell, chief economist at the blockchain intelligence firm Chainalysis, tweeted early Thursday.
- U.S. stock futures were down and the dollar was gaining in foreign-exchange markets early Thursday
- A U.S. government report early Thursday showed jobless claims dropped to 881,000, the lowest since the coronavirus pandemic struck earlier this year, though still elevated compared with historical levels.
Also read: Bitcoin Risks Deeper Price Pullback as Exchange Inflows Spike
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 Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
