Bitcoin Price Flash Crashes by $700 in Minutes Back Below $12K

Published at: Aug. 6, 2019

The top 20 cryptocurrencies are seeing mixed movements as Bitcoin (BTC) suddenly flash crashed in minutes from $12,300 to as nearly $11,600.

Market visualization. Source: Coin360

Nevertheless, Bitcoin price is still currently up by 1.5% on the day, trading at around $11,813 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 24.33%.

Bitcoin 7-day price chart. Source: Coin360

As Cointelegraph reported yesterday, the CEO of crypto payments firm Circle, Jeremy Allaire, suggested that macroeconomic turmoil is responsible for Bitcoin’s recent growth.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $24.5 billion. The second-largest altcoin, XRP, has a market cap of $13.6 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 0.86% over the last 24 hours. At press time, ETH is trading around $231. On the week, the coin has also gained about 10% of its value. 

Ether 7-day price chart. Source: Coin360

XRP is up by about 0.15% over the last 24 hours and is currently trading at around $0.322. On the week, the coin is up about 4.2%.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the most notable losses is Litecoin (LTC), which is down 7.1% at press time.

At press time, the total market capitalization of all cryptocurrencies is $310 billion, about 17.91% lower than the value it reported a week ago.

In traditional markets, the U.S. stock market is seeing losses so far today, with the S&P 500 down 2.98% and the Nasdaq down 3.47% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost 10.91% on the day at press time.

Major oil futures and indexes are seeing mild losses today, with WTI Crude up 0.27%, Brent Crude up 0.05% and Mars US down 2.48% at press time. The OPEC Basket is down 3.2% and the Canadian Crude Index has lost 3.19% over the 24 hours by press time, according to OilPrice.

Keep track of top crypto markets in real time here
Tags
Bitcoin
Bitcoin Price
Ethereum
Altcoin
Cryptocurrencies
Coinmarketcap
Ether Price
Ripple
Related Posts
Bitcoin Price Holds $10,000 as Top Cryptos See Mixed Movements
Saturday, Aug. 3 — the top 20 cryptocurrencies are reporting mixed movements on the day by press time, as Bitcoin (BTC) broke the $10,750 mark again. Market visualization courtesy of Coin360 Bitcoin price is currently up by 3.15% on the day, trading at around $10,778 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 9.56%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported yesterday, Ethereum co-founder Vitalik Buterin said that the future of crypto is pluralist in response to a recent proposal of mixing Bitcoin Lightning Network with Ethereum. Ether (ETH) …
Bitcoin / Aug. 3, 2019
Price analysis 1/13: BTC, ETH, XRP, LTC, ADA, BCH, DOT, XLM, LINK, BNB
The top 100 richest Bitcoin (BTC) addresses have added 334,000 Bitcoin to their existing holdings over the past 30 days, a clear signal that whales and institutional-size investors bought the dip. A positive sign is that most of them have not reacted to the recent fall in Bitcoin’s price. This suggests that large investors are bullish on Bitcoin for the long term rather than looking to make a quick gain. An important element in the recent rally is many of the purchases have come from institutional investors who were critical of Bitcoin in the past. The list is likely to …
Bitcoin / Jan. 13, 2021
Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down
Tuesday, Feb. 26: after a brief recovery attempt yesterday, crypto markets have lost more than $2 billion in terms of total market capitalization today, with the top 20 cryptocurrencies seeing mixed signals. While the market is overall trading sideways, most of top 20 coins are in the red at press time. Market visualization from Coin360 The largest cryptocurrency, Bitcoin (BTC), is down around 1 percent over the past 24 hours, trading at $3,847 at press time. Following major losses on Feb. 24, the top cryptocurrency is down over 3 percent over the past 7 days. Bitcoin 24-hour price chart. Source: …
Bitcoin / Feb. 26, 2019
Bitcoin Price Near $3,400, Wider Crypto Markets See Another Mild Slump
Thursday, Dec. 13: after seeing a small rebound yesterday, crypto markets are experiencing another mild decline, with 19 out of the top 20 cryptocurrencies by market cap in red. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has not managed to hold $3,500 support, dropping to as low as $3,406 earlier today. As of press time, the coin is trading at $3,417, down about 2 percent over the past 24 hours. The leading coin is down about 6.5 percent over the past 7 days by press time. Bitcoin 24-hour price chart. Source: CoinMarketCap Bitcoin Price Index Ripple (XRP), the second …
Bitcoin / Dec. 13, 2018
Bitcoin Hovers Near 6,600, While Most Top Coins See Little Price Volatility
Friday, Oct. 5: cryptocurrencies are seeing little volatility over the past 24 hours to press time, with the majority of losses and gains of top coins capped within a 1 percent range on the day, as data from Coin360 shows. Market visualization by Coin360 Ripple (XRP) is the only outlier in the top ten coins, down a little over 3 percent on the day to trade at $0.52. The asset – which in September briefly outflanked Ethereum to seal the second spot ranking on CoinMarketCap listings – has had a shaky start to the month, and is currently trading almost …
Bitcoin / Oct. 5, 2018