Bitcoin price crash sees hundreds of billions wiped from crypto market
The IndependentSign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The price crash comes less than a week after bitcoin hit a new all-time high of close to $69,000. Follow our live coverage of the crypto market The overall crypto market fell by more than $200 billion overnight to around $2.6 trillion, having briefly teased $3 trillion during the record-breaking rally last week. “Bitcoin’s sell-off has taken it back to levels last seen 10 days ago, hardly a plunge, more a correction of the multi-month rally,” Nicholas Cawley, an analyst at foreign exchange firm DailyFX, told The Independent. “An interesting area of support is around $59,500 – if this holds then we may well see bitcoin reclaim its recent losses, and look at printing a new all-time high, over the coming weeks.”