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Bitcoin breaks below $30,000 in flash crash event – Altcoins bleed

19.04.2023
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At 09:00 BST, Bitcoin (BTC) lost $30,000, sinking as low as $29,010 at the time of press — a 3.6% drawdown.

A bounce saw the 09:15 BST 15-minute candle close at $29,285. However, bears continue piling on the selling pressure — dipping the subsequent candles in readiness for a retest of $29,010 support.

Bitcoin 15 minute chart
Source: BTCUSD on TradingView.com

Twitter user @VetleLunde, an analyst at K33 Research, noted that Bitcoin Open Interest on Binance “puked 5.1% in the last 15 minutes.”

The chart below shows the number of open contracts sinking to approximately 94,300 — from 99,587.

Bitcoin Open Interest
Source: @VetleLunde on Twitter.com

In response, the total crypto market cap lost $40.2 billion over the last 15 minutes — representing a 3% loss in value to $1.228 trillion at the time of press.

Over the past hours, the biggest top 100 altcoin losers were Dash, MultiversX, and CurveDAO Token, down 4.4%, 4.1%, and 4%, respectively.

The post Bitcoin breaks below $30,000 in flash crash event – Altcoins bleed appeared first on CryptoSlate.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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