Wave of sales on all major cryptocurrencies. After a week of earnings coinciding with Coinbase’s IPO on Wall Street, today there are orders to sell on bitcoin and other major cryptocurrencies. Bitcoin, the number one cryptocurrency in the world by value, is about -10% at $ 55,860 after plummeting to $ 52,148 (coindesk data). Bitcoin dropped from around $ 60,000 to $ 52,148 in 15 minutes during the Asian session as it liquidated nearly $ 4 billion of positions in the derivatives market, according to Messari’s Ryan Watkins. During the week it had reached an all-time high of 64,829 dollars. According to Coindesk reports, the mood in the market may have been troubled by rumors that the US Treasury is planning to sanction several financial institutions for money laundering activities using cryptocurrencies.
Worse do the other major cryptocurrencies starting from Ether, the currency connected to the Ethereum blockchain network, which came to sell over 21% under the mute of 2,000 dollars, to then recover in the 2,200 area, however down by more than 11 %. Among the other crypto we note the -20% of XRP, -17% Stellar and -13% of Cardano.
The XRP and Dogecoin crypto meme have seen huge rises in recent days under the spur of heavy buying from retail traders following Coinbase’s Nasdaq listing on April 14 which created general crypto euphoria.