Nearly $10 billion was erased from the cryptocurrency market in a matter of minutes as Bitcoin crashed below $10,000 and hit the low of $9,330. The altcoins swiftly followed the lead as all assets are deeply in red. While the catalyst of the sell-off remains unknown, the initial movement was intensified by triggered stop orders that kicked a lot of weak heads from the market.
At the time of writing, BTC/USD is changing hands at $9,535, down over 6% since the start of the day. The coin erased all Monday’s gains of the previous day and returned to the previous channel.
ETH/USD hit the low at $224.00 and managed to recover to $235.00 by press time. The second-largest digital asset has lost over 5% of its value amid wide spread sell-off on the market.
EOS. XRP and LTC are also nursing significant losses, though the downside momentum seems to fading away by now.
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