After briefly making a low of $17,708, bitcoin rebounded to trade around $18,100 but still down 12 percent in the last 24 hours
There was no weekend respite for cryptocurrency markets that continued to slide, with the largest digital currency bitcoin (BTC) breaking $18,000 and ethereum (ETH) plummeting below $900.
After briefly making a low of $17,708, BTC rebounded to trade around $18,100 levels, down 12 percent in the last 24 hours.
With the slump, BTC has breached the all-time high of the previous crypto cycle. During the previous bull cycle of 2017, bitcoin made a high of $19,783.
The bitcoin blood bath has led to a broader market correction, with ETH tumbling around 13 percent to a low of $896. ETH was trading at $953.
Other major cryptocurrencies saw a similar fall, with Solana’s SOL trading down by about 9 percent at $29.2, Cardano’s ADA declining about 9 percent to trade at 44 cents, and Ripple’s XRP falling by about 6
percent to trade at 30 cents in the last 24 hours.