Share this article
BTC
$83,618.52
-
0.35%ETH
$1,812.54
-
0.29%USDT
$0.9998
+
0.02%XRP
$2.1588
+
1.49%BNB
$592.49
-
0.81%SOL
$120.91
-
0.64%USDC
$1.0002
+
0.02%DOGE
$0.1697
-
0.49%ADA
$0.6543
-
1.19%TRX
$0.2368
-
0.69%LINK
$12.92
-
0.01%LEO
$9.1361
-
0.60%TON
$3.2483
-
3.64%XLM
$0.2541
-
2.31%AVAX
$17.76
-
2.67%SHIB
$0.0₄1238
-
0.08%SUI
$2.2206
-
1.42%HBAR
$0.1626
-
0.84%LTC
$82.98
-
1.98%OM
$6.2654
-
0.02%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Drops as Low as $53.5K in Quick Sell-Off, Then Recovers
Bitcoin fell after the U.S. market close.
- The world's oldest cryptocurrency, bitcoin (BTC) dropped as low as $53,500 on spot exchanges such as Bitstamp in a spate of selling Monday, right after the 21:00 UTC (4 p..m. ET) close of traditional markets in the U.S.
- The bitcoin price had fallen by more than 5% in the past 24 hours during the sell-off. It has now recovered to just over $55,000 as of press time.
- The U.S. S&P 500 lost 0.50% Monday, led by a dump in Tesla stock, down 6% to close the day.
- "We think strong support near $42,000 (per BTC) may be tested as the range is resolved to the downside, before an intermediate-term low is established," noted Katie Stockton, a technical analyst for consulting firm Fairlead Strategies, in a Monday market update.
Daniel Cawrey
Daniel Cawrey has been a contributor to CoinDesk since 2013. He has written two books on the crypto space, including 2020’s “Mastering Blockchain” from O'Reilly Media. His new book, “Understanding Crypto,” arrives in 2023.
