Bitcoin Takes A Dive As Flash Crash Hits $8.9K On BitMEX Crypto Exchange
Mar 19, 2024
Late Monday evening, Bitcoin (CRYPTO: BTC) experienced a sudden and dramatic drop in value on the BitMEX cryptocurrency exchange, plunging to $8,900 from much higher figures on other platforms. What Happened: Bitcoin is the apex cryptocurrency, trading over $60,000 on various exchanges. However, within a mere two minutes, as per TradingView’s charts, its value plummeted to its lowest level since early last year. Following this unexpected tumble, Bitcoin made a swift comeback, climbing to a price of $67,000. While BitMEX saw these drastic fluctuations, the average global price of Bitcoin hovered around $67,400. Bitcoin’s surge to record levels has shown signs of losing steam. The cryptocurrency, which reached a peak of $73,835 on March 14, saw its value drop by 8.3% by March 19. This downturn in Bitcoin’s price follows concerns from some investors who feel the market may be becoming excessively buoyant after the approval of spot ETFs. The fluctuating Bitcoin futures market has further highlighted this ...Full story available on Benzinga.com
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