Bitcoin Price Plunges After LTC, ETH and XRP Lead Crypto Selloff
A quick selloff among some of the cryptocurrency market‘s smaller coins preceded a sharp drop in Bitcoin’s price, pressuring it to nearby technical support.

A quick selloff among some of the cryptocurrency market‘s smaller coins preceded a sharp drop in Bitcoin’s price, pressuring it to nearby technical support.

Bitcoin offered yet another test of nearby support, but a lack of follow-through may allow bulls to reclaim the level yet.

Bitcoin has seen its trading range narrow as bulls and bears hash out price action on the ledge of nearby support which, if broken, could see BTCUSD price slump another 20%.

Bitcoin dropped below $10,000 for the first time in two weeks as US regulators grilled Facebooks David Marcus over their proposed cryptocurrency the Libra.

After a brief period of consolidation, Bitcoin is headed higher as it trades between two important Fibonacci levels. Elsewhere, Facebooks Libra faces widespread scrutiny.

After surmounting the $10,000 mark over the weekend, the largest cryptocurrency by market capitalization has its sights set on $11,000 as bulls look to extend the coin's meteoric rise.