Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
At 09:00 BST, Bitcoin (BTC) fell below $30,000, reaching a low of $29,010 at the time of reporting — a decline of 3.6%.
A rebound occurred, with the 09:15 BST 15-minute candle closing at $29,285. Nevertheless, sellers continue to exert pressure, causing subsequent candles to dip in anticipation of a retest of the $29,010 support level.
Source: BTCUSD on TradingView.com
Twitter user @VetleLunde, an analyst at K33 Research, observed that Bitcoin Open Interest on Binance “plummeted 5.1% in the last 15 minutes.”
Related Posts
The chart below illustrates the decline in open contracts to around 94,300 — down from 99,587.
Source: @VetleLunde on Twitter.com
As a result, the total cryptocurrency market capitalization decreased by $40.2 billion in the last 15 minutes — indicating a 3% reduction in value to $1.228 trillion at the time of reporting.
In recent hours, the largest losers among the top 100 altcoins included Dash, MultiversX, and CurveDAO Token, which fell by 4.4%, 4.1%, and 4%, respectively.
The post Bitcoin breaks below $30,000 in flash crash event – Altcoins bleed appeared first on CryptoSlate.
