Not a good start to the week for crypto crazies with Bitcoin dropping more than 14% over the weekend, plunging $9K in minutes:
This takes price back to the September highs and before the most recent breakout that saw it make a new historic high, leaving a nasty gap on the weekly chart that could be filled by the next area of support around the $43K level:
Something fishy is happening – as always with cryptoworld – even as ETFs are launched and marginal nations are buying up Bitcoins to bolster then beleaguered foreign reserves.
Other currencies are down:
- Ether is off more than 10% at just over $4100, down from $4600
- Solana is off more than 20% at $190
- Cardano was slashed nearly 25%, down to $1.35
Interestingly, Ethereum was only off about 9% from its recent highs. All just a normal day in cryptoland!