Bitcoin price broke down below the psychological level of $7,000 late on Monday. The cryptocurrency updated the December low after blockchain researcher Chainalysis said that PlusToken scammers were selling coins to cash out.
Bitcoin Dragging Down Crypto Market
At the time of writing, the cryptocurrency fell 3.11% in the last 24 hours, touching the daily low at $6,905. For most of the day, the bitcoin price was trading above $7,100.
Altcoins tumbled as well, even posting much greater declines. Ethereum, which is heavily involved in the PlusToken scandal, dropped over 7% to $133. Litecoin and EOS have also lost over 7%.
In total, the crypto market has lost over $7 billion in the last few hours, from a daily peak of over $195 billion, according to Coinmarketcap data.
Thus, bitcoin price has just updated the lowest level in December….