Volatility Returns to the Crypto Market as Bitcoin (BTC) Plunges to New 2018 Low
After months of sideways trading, volatility swiftly returned to the crypto market as Bitcoin (BTC) dropped to a new year-low, dipping below $5,750.
This drop comes as short interest was sitting at a near 1-month low. According to data from TradingView, the total short interest on Bitfinex currently stands at 23,309 BTC, which roughly equals $125 million.
In addition to Bitcoin, all other major altcoins have dropped more than 10%. As a result, the AltDex 100 Index (ALT100), a benchmark index for large-cap coins and tokens, is currently down 12.7% to a 3-month low.
BTC is now down 12% on the day to $ 5,616. This brings the largest cryptocurrency’s market cap to $97.5 billion.
More: AltDex 100 Cryptocurrency Index
Related: Bitcoin And Crypto Market Plummets–Dealing Blows To Ripple (XRP), Ethereum, And Bitcoin Cash
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
