Bitcoin’s price has just crashed below the iconic previous all-time high of 2017 at $20,000. This happens as the entire market tumbles amid rampant rumors and ongoing challenges.
For the first time since December 2020, the price of BTC traded below $20,000 on Binance.
As of writing these lines, the cryptocurrency dropped to a low of $19,066 on Bitstamp Exchange, which is below the iconic previous all-time high from 2017 – $19.7K.
BTC/USD. Chart by TradingView
This comes on the back of a broader market pullback where all cryptocurrencies are trading well in the red.
The market capitalization tumbles further below $1 trillion, standing at $885 million at the time of this writing.
This has also propelled liquidations of futures contracts and their collective worth over the past 24 hours has exceeded $125 million.
The psychological level of $20K held firmly over the past days, and immediately after breaking it, a lot of supply orders were sent into the market plunging the price. Read more on our latest BTC price analysis.
Andrew is content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013, but began diligently studying the blockchain technology and its economic implications in 2017. Ever since, he’s believed in the network’s power to replace the current global monetary system, and provide financial freedom to billions worldwide.
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