The price of Bitcoin (BTC) fell to a two-week low today, losing around $ 800. The plunge in the price of Bitcoin has set the trend for the day. In this sense, the price action below USD 10,000 gave way to a new bearish behavior.
Bitcoin failed 10K
Bitcoin’s fight to recover $ 10,000 came to a disastrous end as the price fell brutally to $ 9,100. After fluctuating around the $ 9,500 mark, Bitcoin dropped $ 800 in a matter of hours to reach low levels not seen since May 28.
The collapse in the price of Bitcoin was reflected in the CoinMarketCap data where the fall in the price of Bitcoin was recorded during the day.
At one point between those last hours, the price of BTC even fell below $ 9,100, although it recovered that level quickly.
The rest of the cryptocurrency market has also suffered from the decline. Among the top 20 altcoins according to their market capitalization, the losses of Bitcoin Cash, Litecoin, EOS stand out.
At the time of writing, Bitcoin was trading on Crypto Online’s Crypto Trend at $ 9,270, registering a decreasing variation of 6.31%.
Bitcoin price crash causes 8% drop
As we have been mentioning, today there was a crash in the price of Bitcoin. BTC posted an 8% drop earlier today.
Although it was believed that Bitcoin could boost its price above USD 10,000, the opposite occurred today. Sellers have been in control of the market at least for now.
We had previously reported about the falling dollar and its impulsive effect on Bitcoin’s price. However, today it reached an important demand zone.
Despite Bear Market Binance Adds New BTC Futures
Crypto exchange Binance has launched a new Bitcoin futures product despite institutional investors showing new uncertainty about the market.
In a blog post, Binance revealed that its quarterly futures contracts had gone into effect, and that settlement was due in September.
The move marks Binance’s latest foray into Bitcoin derivatives, a market currently dominated by fellow exchanges OKEx and Huobi.
Binance CEO predicts global hyperinflation
Changpeng Zhao, CEO of the world’s leading cryptocurrency exchange, Binance, expressed through his Twitter account that the world economy is facing terrible inflation mainly because of the Coronavirus.
Despite the booms that Wall Street and all the stock exchanges in the world have undergone, after the economic recovery in 2008 it is still not reflected in all sectors of the economy.
And it is that, while the financial sector or Wall Street accumulated large profits, Main Street or the productive sector did not. This left millions of workers in a very precarious situation when the Coronavirus crisis began.
Reddit user almost gets a wallet with $ 5 million in lost Bitcoin
A Redditor has been tantalizingly close to finding 533 lost Bitcoin stored on his late brother’s laptop, worth $ 5.2 million at current prices.
The lost Bitcoins were stored on a laptop that the Redditor “Shotukan” gave to his brother, who died last August. He unearthed the computer as he rummaged through boxes of his brother’s possessions.
But … the laptop’s hard drive is gone, and with it the lost Bitcoin treasure. That means old Shotukan has no way to access BTC, which he must have bought for a few pennies in 2010.
In a few lines:
- A story about a young woman’s relationship with a Bitcoin millionaire is making headlines in the Australian media. It is a love, drug and crime story, ending in a court case at the Maroochydore District Court in Queensland.
- Microsoft’s decentralized identity network ION, first announced in May, is moving to beta testing on the Bitcoin network.
- Bakkt, the Intercontinental Exchange derivatives and digital assets custody platform, partnered with crypto asset manager Galaxy Digital to launch a ‘white glove’ service for institutions seeking exposure to Bitcoin.