The price of Bitcoin (BTC) has plummeted below $26,000, falling 8% in just a 10 minute window.
fell around 8% in a span of 10 minutes, causing the cryptocurrency to dip well under $26,000, before partially recovering.77 on Aug. 17 at 9:30 pm UTC time before tumbling just over 8% to $25,409, according to Coinmarketcap.
The fall has taken Bitcoin's market cap below $500 billion for the first time since June 16 and hit lows not seen since June 20.Cryptocurrency analyst Will Clemente noted that Bitcoin saw the largest single-day increase in BTC implied volatility this year.Is the volatility drought finally over?
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