Bitcoin, Ether Now Down 50% From Last Month’s ATHs as Rout Resumes

Even if Huobi is the specific catalyst for today’s plunge, it’s just the latest negative news in the sector that has been battered in the last few weeks.

The sell-off in cryptocurrencies resumed Sunday afternoon ET with most major coins down plunging 20% to 30% or more in the last 24 hours. Bitcoin, the largest cryptocurrency by market value, is a bright spot only in comparison, being down a mere 16%. Both bitcoin (BTC, -2.88%) and ether (ETH, -2.68%), the second-largest crypto that is down 15%, have now lost half their value from all-time highs set last month.

  • In recent trading, the price of bitcoin was at $32,297.15, down 14.95%. Earlier in the afternoon it had reached as low as $31,179.69, all but wiping out year-to-date gains. At press time, ether was at $1868.79, down 17.8% after falling as low as $1,733.58. Even with today’s drop, ether is still up 159% year-to-date.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Stock Point

Stock Point is a cross-platform cryptocurrency exchange. Crypto it’s easy with us! stockpoint.io