Bitcoin Drops to $13k in Red Day for Crypto Markets

A case of crypto traders locking in holiday gains?

Whatever the reason, the price of bitcoin spent much of Saturday in decline, as the world’s largest cryptocurrency saw a nine percent drop over the 24-hour span. Sunday’s session has so far seen that drop intensify, with the price down nearly 12 percent as of 4:00 UTC.

Just hours away from a launch on a major futures exchange, bitcoin is now down nearly 25 percent from an all-time high of $17,117 set earlier this week, with the price hitting a low of $13,152 today, data from the CoinDesk Bitcoin Price Index reveals.

That said, bitcoin wasn’t the only cryptocurrency affected. According to data from CoinMarketCap, all but one of the top 50 assets by market capitalization have seen 24-hour declines…

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