{"id":18554,"date":"2023-03-10T12:37:37","date_gmt":"2023-03-10T12:37:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-breaks-below-20k-amid-crypto-selloff\/"},"modified":"2023-03-10T12:37:37","modified_gmt":"2023-03-10T12:37:37","slug":"bitcoin-price-breaks-below-20k-amid-crypto-selloff","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-breaks-below-20k-amid-crypto-selloff\/","title":{"rendered":"Bitcoin price breaks below $20K amid crypto selloff"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678449226454-5e76d447-500e-4b36-9dcc-7932070888a3-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678449226454-5e76d447-500e-4b36-9dcc-7932070888a3-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678449226454-5e76d447-500e-4b36-9dcc-7932070888a3-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678449226454-5e76d447-500e-4b36-9dcc-7932070888a3-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin price fell below $20,000 for the first time since November 2022.<\/li>\n<li dir=\"ltr\">The top crypto asset by market cap dumped amid broader selloff for cryptocurrencies, largely fueled by negative news.<\/li>\n<li dir=\"ltr\">Among other news, the New York Attorney General has sued KuCoin over offering of unregistered securities, with Ethereum named as one of the securities.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> has dropped nearly 10% in the past 24 hours amid negative <a href=\"https:\/\/coinjournal.net\/news\/\">cryptocurrency news<\/a> that could yet catalyse further losses.<\/p>\n<p dir=\"ltr\">As the Bitcoin price chart below shows, the value of the leading cryptocurrency by market fell to lows of $19,569 on cryptocurrency exchange Bitstamp.\u00a0<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 600px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/02\/10\/1678448802398-6c69118d-8cd4-4260-ac2a-7cc5a3e4104b.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"263\"\/><span class=\"fr-inner\">Bitcoin price fell below $20,000 to hit $19,569 on Bitstamp. Source: <a href=\"https:\/\/www.tradingview.com\/x\/heTVdMlZ\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">This after a selloff that began late Thursday extended into Friday morning, with the dump pushing BTC below the psychological support zone of $20,000 for the first time since November 2022 during the FTX dump.<\/p>\n<\/div>\n<h2 dir=\"ltr\">Why Bitcoin and crypto crashed today<\/h2>\n<p dir=\"ltr\">As CoinJournal <a href=\"https:\/\/coinjournal.net\/news\/new-york-state-attorney-general-files-a-lawsuit-kucoin\/\">reported<\/a> early Friday, today\u2019s selling pressure for cryptocurrencies comes after the New York Attorney General sued the crypto exchange Kucoin alleging it sold unregistered securities. The negative news was compounded by the fact that the lawsuit identified Ethereum as one of the securities.<\/p>\n<p dir=\"ltr\">The market\u2019s reaction saw Ethereum price plunge to lows of $1,375 and was down 9.8% at the time of writing.<\/p>\n<p dir=\"ltr\">Overall selloff pressure also follows news that crypto bank <a href=\"https:\/\/coinjournal.net\/news\/silvergate-shares-tumble-after-company-says-its-shutting-down-crypto-bank\/\">Silvergate was winding down<\/a>. The company\u2019s shares plummeted nearly 50% in the aftermath, with fears of even more damage amid a Silicon Valley \u201cbank run.\u201d<\/p>\n<p dir=\"ltr\">Another headline news likely to have fueled fresh downside for crypto was reports that the US was targeting a new tax on Bitcoin mining. Huobi Token\u2019s <a href=\"https:\/\/coinjournal.net\/news\/ht-huobis-native-token-price-crashed-by-90-on-thursday-heres-why\/\">flash crash<\/a> and a security breach on Hedera also added to the broader market bloodbath.<\/p>\n<p dir=\"ltr\">Crypto analyst Miles Deutscher highlighted this confluence of negative triggers, noting that stocks and cryptocurrencies have shed over $2 trillion in market cap over the past 24 hours.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In the last 24 hours: <\/p>\n<p>\u2022 Stocks + crypto shed $2T in value<br \/>\u2022 New York Attorney labels <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> a security<br \/>\u2022 KuCoin hit with lawsuit<br \/>\u2022 Silicon Valley bank crash<br \/>\u2022 Huobi flash crash<br \/>\u2022 Biden proposes tax on <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> mining<br \/>\u2022 Voyager liquidating assets<\/p>\n<p>Just another day in crypto..<\/p>\n<p>\u2014 Miles Deutscher (@milesdeutscher) <a href=\"https:\/\/twitter.com\/milesdeutscher\/status\/1634046542029127680?ref_src=twsrc%5Etfw\">March 10, 2023<\/a><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-breaks-below-20k-amid-crypto-bloodbath-heres-what-happened\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin price fell below $20,000 for the first time since November 2022. The top crypto asset by market cap dumped amid broader selloff for cryptocurrencies, largely fueled by negative news. Among other news, the New York Attorney General has sued KuCoin over offering [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":18555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18554"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18554"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/18555"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}