Bitcoin falls $400 in brutal 90-minute sell-off, crypto loses $18 billion

BTCbelow7kBitcoin dips below $7,000

Update, 14:22 UTC Goldman Sachs pulls crypto plan.

Crypto is bleeding as bitcoin falls, down 4.4% to $7,008. Bitcoin lost $400 of its value in a brutal sell-off over 90 minutes.

Altcoins are bleeding even more heavily. Ethereum, Ripple, Litecoin and EOS are off 10% or more.

There are is no particular reason behind the fall other than traders selling into resistance.

Bitcoin falls from highs to lows

Bitcoin rose to touch $7,400 earlier today before the collapse to $6,950.

Overall market cap has given up $18 billion, falling back from nearly $240 billion to $222 billion, with alts suffering..

Bitcoin Diamond is doing a bitcoindark (up 300% at one stage yesterday alone) and is 130% higher at $428 as the strange price movements of bitcoin clone coins continues. BCD rose 200% at one point but continues to fall back now. Bitcoindark is down 22% at $60 after reaching $102 yesterday.

As bitcoin dumps, market watchers will have noted that volatility has been low for the past few days as the market waited fort the next big move, up or down. Turns out it was the bearish reversal that was waiting in the woods. It could even be the owner of the mystery bitcoin wallet that is doing the selling.

With strong support at $6,000 levels, expect shorting traders to start looking to buy-in again as the price stabilises at $7,000.

Data snapshot: top 100 crypto prices, as at 5 September, 12:15 UTC

Note: Smartphone users – rotate device to landscape to view full table 

Rank Name Symbol USD 24h vol
USD
% ch
24h
1 Bitcoin BTC 7002.578 5,081,053,454 -4.58
2 Ethereum ETH 257.876 1,817,377,495 -10.72
3 XRP XRP 0.304 288,093,909 -9.78
4 Bitcoin Cash BCH 565.701 485,725,522 -10.85
5 EOS EOS 5.819 872,553,433 -10.73
6 Stellar XLM 0.214 66,296,388 -4.05
7 Litecoin LTC 62.164 372,618,998 -8.75
8 Tether USDT 1.000 3,365,138,106 0.24
9 Cardano ADA 0.095 76,976,122 -9.99
10 Monero XMR 124.224 47,276,770 -10.35
11 IOTA MIOTA 0.628 53,606,160 -13.3
12 Dash DASH 196.844 204,279,790 -10.15
13 TRON TRX 0.023 122,737,010 -9.39
14 NEO NEO 21.476 118,650,460 -8.52
15 Ethereum Classic ETC 12.566 215,930,808 -10.63
16 Binance Coin BNB 10.520 26,665,383 -7.5
17 NEM XEM 0.110 24,823,265 -11.92
18 VeChain VET 0.017 41,545,534 -12.36
19 Tezos XTZ 1.346 2,982,135 -5.89
20 Zcash ZEC 142.538 119,213,871 -9
21 OmiseGO OMG 4.247 46,297,769 -10.32
22 Dogecoin DOGE 0.005 35,730,693 -7.33
23 Bitcoin Diamond BCD 3.069 127,370,424 132.88
24 Lisk LSK 4.195 6,855,946 -9.85
25 Bytecoin BCN 0.002 9,572,770 -5.06
26 Ontology ONT 2.137 70,765,978 -13.74
27 0x ZRX 0.715 20,054,144 -12.08
28 Qtum QTUM 4.209 116,522,426 -12.37
29 Nano NANO 2.671 17,020,748 -14.66
30 Bitcoin Gold BTG 20.323 21,631,261 -6.17
31 Decred DCR 40.805 1,725,873 -5.62
32 DigiByte DGB 0.030 12,859,100 -8.54
33 ICON ICX 0.822 30,876,669 -12.52
34 Zilliqa ZIL 0.041 22,453,341 -11.87
35 Maker MKR 451.808 129,897 -5.25
36 BitShares BTS 0.113 7,621,624 -8.66
37 Aeternity AE 1.075 17,028,801 -10.47
38 Steem STEEM 0.906 23,864,622 -11.26
39 Verge XVG 0.016 9,550,056 -13.89
40 Siacoin SC 0.007 8,728,784 -13.68
41 Waves WAVES 2.094 4,568,821 -8.54
42 Basic Att’n Tkn BAT 0.208 4,713,138 -10.04
43 Pundi X NPXS 0.002 20,360,771 -9.96
44 Augur REP 18.500 13,365,438 -10.69
45 Bytom BTM 0.197 57,065,870 -11.88
46 Waltonchain WTC 4.461 14,223,421 -12.54
47 Stratis STRAT 1.788 9,737,490 -5.65
48 Metaverse ETP ETP 3.157 4,624,031 -4.17
49 Populous PPT 4.209 4,543,850 -9.23
50 Golem GNT 0.158 15,397,364 -12.48
51 Komodo KMD 1.375 2,417,664 -13.23
52 Holo HOT 0.001 23,332,207 -23.33
53 Status SNT 0.040 35,639,580 -9.14
54 RChain RHOC 0.358 203,901 -11.34
55 KuCoin Shares KCS 1.404 222,275 -7.01
56 MaidSafeCoin MAID 0.281 1,795,116 -5.67
57 Hshare HSR 2.916 18,353,714 -12.81
58 Mithril MITH 0.330 40,251,698 -8.88
59 Wanchain WAN 1.168 4,598,388 -17.14
60 MOAC MOAC 1.954 85,645 0.25
61 IOST IOST 0.014 15,831,255 -12.93
62 Ardor ARDR 0.109 2,043,587 -10.62
63 Dentacoin DCN 0.000 67,011 -4.29
64 Aion AION 0.504 2,234,700 -15.89
65 aelf ELF 0.416 19,346,409 -10.27
66 ReddCoin RDD 0.004 3,122,218 -12.18
67 Cryptonex CNX 2.238 3,598,819 -6.21
68 Huobi Token HT 1.919 14,723,330 -10.23
69 Mixin XIN 214.176 78,654 -6.52
70 Chainlink LINK 0.267 1,510,636 -12.53
71 DigixDAO DGD 44.015 800,553 -16.04
72 FunFair FUN 0.017 965,533 -8.25
73 Dropil DROP 0.004 412,035 10.52
74 Horizen ZEN 17.725 951,397 -9.2
75 Ark ARK 0.783 402,242 -10.68
76 Nebulas NAS 1.793 6,418,407 -11.65
77 GXChain GXS 1.351 1,699,645 -10.25
78 Bancor BNT 1.530 4,030,546 -10.21
79 BitcoinDark BTCD 60.464 365,497 -20.34
80 MonaCoin MONA 1.239 659,820 -10.95
81 QASH QASH 0.216 997,824 -11.02
82 Bitcoin Private BTCP 3.646 245,164 -12.38
83 TrueUSD TUSD 1.003 17,027,191 0.39
84 Gas GAS 7.201 5,094,168 -11.33
85 TenX PAY 0.666 26,398,881 0.24
86 Decentraland MANA 0.069 4,257,840 -12.5
87 Nxt NXT 0.072 2,923,501 -9.29
88 MCO MCO 4.467 12,515,628 -9.62
89 WAX WAX 0.075 456,299 -10.7
90 Power Ledger POWR 0.182 13,923,029 -9.8
91 ZCoin XZC 12.354 1,012,747 -5.85
92 Elastos ELA 8.532 4,145,308 -14.55
93 Aurora AOA 0.020 497,784 -10.47
94 PIVX PIVX 1.174 786,027 -5.11
95 CyberMiles CMT 0.096 8,292,799 -11.97
96 Theta Token THETA 0.099 5,768,947 -13.1
97 Kyber Network KNC 0.482 16,963,394 -8.55
98 Kin KIN 0.000 706,500 -12.47
99 Loopring LRC 0.108 6,284,332 -13.27
100 Nuls NULS 1.530 5,830,203 -13.91

 

About the Author

Jennifer Collins
Jennifer has been writing about crypto since 2016 when she first got interested as a student at Queen Mary University in London. You can email me here: jennifercollins@coinintelnews.com

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