Bitcoin Crashes to January Lows, Altcoins Suffer Bigger Losses

In a surprising move, bitcoin (BTC) price crashed this weekend, dropping to the levels last seen in January, while all major altcoins are in red against BTC on Sunday.

Source: iStock/FARBAI

(Find the update here: Silver Lining for Bitcoin Amid Global Market Panic, Altcoins Purge Estimated)

BTC dropped on Saturday sharply and is still moving down on Sunday. At pixel time (16:01 UTC), bitcoin trades at c. USD 8,431 and is down almost 8% in a day and 2% in a week, increasing its monthly losses to almost 13%.

BTC price chart:


The whole market capitalization decreased by almost 9%, to USD 242 billion in a day, while other coins from the top 10 are down against USD by 9%-16%, and by 2%-10% against BTC.

Now, from the top 10, only tezos (XTZ) is in green in the past month (+24%).