{"id":419360,"date":"2020-03-27T23:51:17","date_gmt":"2020-03-27T23:51:17","guid":{"rendered":"https:\/\/wncen.com\/?p=419360"},"modified":"2024-06-11T13:46:52","modified_gmt":"2024-06-11T13:46:52","slug":"the-bitcoin-price-just-plunged-to-6400-after-days-stagnation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/the-bitcoin-price-just-plunged-to-6400-after-days-stagnation\/","title":{"rendered":"The Bitcoin Price Just Plunged Under $6,400 After Days of Stagnation"},"content":{"rendered":"
Over the past ten minutes, Bitcoin has performed extremely poorly, falling from $6,700 to a price as low as $6,265 in an over 6% sell-off, per data from TradingView<\/a>. As a result, at least $20 million worth of long positions on BitMEX were liquidated<\/a>, while millions more probably bit the dust on other exchanges.<\/p>\n <\/p>\n This 6% crash comes after days of stagnation for the cryptocurrency market, epitomized by the fact that the cryptocurrency held between $6,500 and $7,000 for over three days, leading one trader to jokingly ‘capitulate’<\/a> because of the lack of volatility.<\/p>\n There seems to be no news trigger to this sell-off, though, the stock market has started to reverse after a jaw-dropping 20% rally in the matter of a few days. More specifically, the S&P 500 dropped 3.4% on Friday while the Dow Jones saw a similar loss.<\/p>\n While Bitcoin is likely to close the daily candle under the ever-important $6,400 support in a few minutes, there remain bullish fundamental factors.<\/p>\n One such factor is, according to data from ByteTree, on March 25th Bitcoin miners sold 2,788 coins against 1,588 mined, resulting in $7.2 million in BTC sold that on a normal day would\u2019ve been held.<\/p>\n