Bitcoin Price Tumbles 10% as Crypto Markets Flash Red

The price of bitcoin fell more than 10 percent during Thursday’s trading session as the cryptocurrency erased a large portion of its recent gains.

At 6:00 UTC, bitcoin opened the trading hour at a price of $4,018, but fell to $3,748 before the hour was complete. After trading sideways until 16:00 UTC, the sell-off accelerated to a low of $3,570, according to CoinDesk pricing data.

Bitcoin’s current price of $3,610 reflects a $367 difference and more than 9 percent drop from its 24-hour opening price of $3,995, CoinDesk data further reveals.

In the last 24-hours, a total of $6.4 billion of bitcoin was traded across exchanges as its total market capitalization fell roughly 7 percent from $70 billion to $64 billion.

The broader market has accompanied bitcoin in its latest dip as it usually does when bitcoin markets show weakness.

Source: Coindesk

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