Bitcoin Price Flash Crashes by $700 in Minutes Back Below $12K

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Most of the top 20 cryptocurrencies are reporting mixed movements on the day by press time, as Bitcoin breaks the $11,800 mark again.

The top 20 cryptocurrencies are seeing mixed movements as Bitcoin (BTC) suddenly flash crashed in minutes from $12,300 to as nearly $11,600.

Market visualization

Market visualization. Source: Coin360

Nevertheless, Bitcoin price is still currently up by 1.5% on the day, trading at around $11,813 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 24.33%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

As Cointelegraph reported yesterday, the CEO of crypto payments firm Circle, Jeremy Allaire, suggested that macroeconomic turmoil is responsible for Bitcoin’s recent growth.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $24.5 billion. The second-largest altcoin, XRP, has a market cap of $13.6 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 0.86% over the last 24 hours. At press time, ETH is trading around $231. On the week, the coin has also gained about 10% of its value. 

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

XRP is up by about 0.15% over the last 24 hours and is currently trading at around $0.322. On the week, the coin is up about 4.2%.

XRP 7-day price chart

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the most notable losses is Litecoin (LTC), which is down 7.1% at press time.

At press time, the total market capitalization of all cryptocurrencies is $310 billion, about 17.91% lower than the value it reported a week ago.

In traditional markets, the U.S. stock market is seeing losses so far today, with the S&P 500 down 2.98% and the Nasdaq down 3.47% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost 10.91% on the day at press time.

Major oil futures and indexes are seeing mild losses today, with WTI Crude up 0.27%, Brent Crude up 0.05% and Mars US down 2.48% at press time. The OPEC Basket is down 3.2% and the Canadian Crude Index has lost 3.19% over the 24 hours by press time, according to OilPrice.

Keep track of top crypto markets in real time here

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