The crypto market initiated an intense sell-off as the Bitcoin price fell below the $3,480 mark.
BTC could test the $3,230 support level first. Depending on the movement of the asset at $3,430, the asset could initiate a corrective rally or continue a steep drop to low $2,900.
In the last 11 hours, the daily volume of the cryptocurrency market has recovered from around $12 billion to $16 billion, by 24 percent.
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