Bitcoin Suffers Shock One-Hour Plunge
Market Musings

Bitcoin Suffers Shock One-Hour Plunge

1 month ago
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The carnage has seen hundreds of billions of dollars wiped from the total market cap of cryptocurrencies in the space of a few short hours.

Bitcoin Suffers Shock One-Hour Plunge

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Bitcoin experienced a sudden, dramatic pullback on Wednesday morning — tumbling from $60,825 to $58,208 in the space of an hour. 
The 4.3% plunge comes a correction grips the crypto markets, but many analysts are confident that this will serve as a temporary blip, with the bull run set to continue in November and December.
However, in the short term at least, BTC remains some way off the all-time highs of $67,000 set one week ago.

The carnage has seen hundreds of billions of dollars wiped from the total market cap of cryptocurrencies in the space of a few short hours.

Data also suggested that total liquidations topped $500 million in a single hour.

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Misery Spreads to Altcoins

BTC is down 5.9% over the past 24 hours — extending to losses of 7.6% over a seven-day timeframe.
Ether has also suffered a plunge, and right now, it is battling to remain above $4,000.

Cardano, Solana, XRP and Dogecoin were all suffering heavier 24-hour losses than Bitcoin as of 10am London time on Wednesday morning.