Coindesk Logo

Bitcoin Slumps to 3-Month Low Below $6K

Bitcoin Slumps to 3-Month Low Below $6K

Bitcoin Slumps to 3-Month Low Below $6K

Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.

Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.

Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.

AccessTimeIconFeb 6, 2018, 8:30 AM
Updated Aug 18, 2021, 8:07 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off.

Prices on CoinDesk's Bitcoin Price Index (BPI) fell as low as $5,967.34 at 07:59 UTC – the lowest level since Nov. 13. As of writing, the world's largest cryptocurrency by market capitalization is changing hands at $6,156, down around 22 percent on a 24-hour basis.

The sell-off has been significant, as indicated by the $1,000 drop seen between 00:45 to 05:00 UTC. Further, during the same time period, the market capitalization of bitcoin dropped more than $11 billion to $106 billion. The total market capitalization of all cryptocurrencies has also fallen to $282.40 billion – the lowest level since Nov. 26.

Meanwhile, the remaining top 10 currencies by market cap are down at least 20 percent each. NEO has depreciated by 36 percent in the last 24 hours, according to data source CoinMarketCap and is the biggest loser in the top 10.

In the top five, ethereum's ether token is down 29 percent, Ripple's XRP is down 24 percent, bitcoin cash has lost 28 percent and cardano is down 24.

Chart on phone image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.