
The Bitcoin price has just plunged by more than $1,000 to its intraday low of $9,135 on the Bitstamp exchange. The monumental collapse started at 14:46 UTC and took only a few minutes.
The buyers quickly stepped in to push the price to its current level of $9.595.
Advertisement

In such a way, the world's leading cryptocurrency has completely retraced its overnight rally to the $10,400 level.
Crypto Market Prediction: XRP Delivers Legendary Price Pattern, Ethereum (ETH) Consolidates for $4,500, No $150,000 Bitcoin (BTC)?
Billionaire Bitcoin Holder Paul Tudor Jones Predicts 'Massive Rally'
BREAKING: Bitcoin Hits New Record High. Will It Reach $130K Soon?
Bitcoin Hits All-Time High, XRP Next? Ripple CEO Confirms Next Stage, Shiba Inu (SHIB) Massive Fight Begins — Crypto News Digest
The brutal sell-off has put a spanner in the works for the bulls who wanted the price to finally consolidate in the five-digit territory.
Advertisement
Due to this back-and-forth price action, more than $220 mln worth of shorts and longs have been liquidated on the BitMEX cryptocurrency exchange over the last 24 hours, according to data provided by Skew.
