Cryptocurrency

Bitcoin

<div class="sg-post-des">
 The price of Bitcoin fell around 8% in just 10 minutes on Aug. 17, down to levels not seen since June 20. 
</div> 
<div class="cointelegraph"> 
 The <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of Bitcoin (BTC) fell around 8% in a span of 10 minutes, causing the cryptocurrency to dip well under $26,000, before partially recovering. 
 BTC was hovering around $27,677&nbsp;on Aug. 17 at 9:30 pm UTC time before tumbling just over 8% to $25,409, according to Coinmarketcap. 
 <figure> 
 <img src="https://s3.cointelegraph.com/uploads/2023-08/c96b1bcd-a432-4465-aa7e-913978386b79.PNG"> 
 <figcaption style="text-align: center;"> Bitcoin fell to a low of $25,409. Source: Coinmarketcap 
 </figcaption> 
 </figure> 
 The <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of Bitcoin was even lower on crypto exchange Bitfinex, hitting a low of $24,715 before on making a partial recovery back above $26,000. 
 Initial reactions from the X (Twitter) community have pegged the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> drop to reports that SpaceX wrote down the value of BTC&nbsp;it previously acquired by $373 million and sold the cryptocurrency, while others have pointed to China’s Evergrande Group filing for Chapter 11 bankruptcy in New York. 
 The fall has taken Bitcoin's market cap below $500 billion for the first time since June 16 and hit lows not seen since June 20. 
 Related: Bitcoin bulls risk trading range loss as BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> nears 2-month lows 
 Cryptocurrency analyst Will Clemente noted that Bitcoin saw the largest single-day increase in BTC implied volatility this year.&nbsp; 
 <blockquote class="twitter-tweet"> 
 Biggest single-day increase in Bitcoin implied volatility of the entire year Is the volatility drought finally over? pic.twitter.com/tDfU5qMCwY— Will Clemente (@WClementeIII) August 17, 2023 
 </blockquote> 
 Despite the dip, BTC is still up 60% since it entered 2023 at about $16,550. 
 Magazine: Hall of Flame: Wolf Of All Streets worries about a world where Bitcoin hits $1M 
 <template data-name="subscription_form" data-type="markets_outlook"></template> 
</div>

Bitcoin price briefly dips below $26K, falling to two-month lows

TheBitTimes

Other articles published on Aug 18, 2023

Sui Price Prediction: Significant Rise in Active Addresses

Bitcoin price drops to a two month low — Did pro traders benefit?

JPMorgan Says Bitcoin Miners Exploring a New Industry for Post Halving

Massive sting operation uncovers huge Crypto scam in Thailand; Chinese businesswoman arrested

TWLO Stock Price Up Move is a No-Show Despite Positive Earnings

XRP Recovery Imminent Despite 20% Crash

Join our free newsletter for daily crypto updates!