The flagship cryptocurrency has plummeted from the pedestal above $11,500. Before that, Bitcoin tested the resistance at $11,600 but failed to slice through. Support at $11,200 to the rescue of the bellwether cryptocurrency, which currently exchanges hands at $11,290 following a minor retreat.
Other digital assets like Ethereum and Bitcoin followed in Bitcoin’s footsteps, plunging through crucial levels at $270 and $260, respectively. It is not clear what could be behind the flash drop now; however, FXStreet will continue to monitor the situation and update accordingly.
Read more: Bitcoin Cash Price Analysis: BCH at the tipping point as reversal looms
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