Bitcoin’s price has suddenly dropped below the all-time high of $20,000 set in 2017. This occurs as the stock market as a whole plummets due to widespread rumors and persistent issues.
On Binance, the price of BTC fell below $20,000 for the first time since December 2020.
The cryptocurrency has plunged to a low of $19,066 on Bitstamp Exchange as of this writing, which is below the legendary previous all-time high of $19.7K set in 2017.
This comes after a broader market correction, with all cryptocurrencies trading in the red.
The market capitalization has dropped below $1 trillion, and is currently at $885 million as of this writing. This has prompted the liquidation of futures contracts, the total value of which has surpassed $125 million in the last 24 hours.
The psychological threshold of $20K has held steady in recent days, and when it was broken, a flood of supply orders was pushed into the market, sending the price down.
