Bitcoin Breaks Down $20K: Crashes Below 2017’s Previous All-time High

Bitcoin’s price has just crashed below the iconic previous all-time high of 2017 at $20,000. This happens as the entire market tumbles amid rampant rumors and ongoing challenges.

For the first time since December 2020, the price of BTC traded below $20,000 on Binance.

As of writing these lines, the cryptocurrency dropped to a low of $19,066 on Bitstamp Exchange, which is below the iconic previous all-time high from 2017 – $19.7K.

BTC/USD. Chart by TradingView

• This comes on the back of a broader market pullback where all cryptocurrencies are trading well in the red.
• The market capitalization tumbles further below $1 trillion, standing at $885 million at the time of this writing.
• This has also propelled liquidations of futures contracts and their collective worth over the past 24 hours has exceeded $125 million.
• The psychological level of $20K held firmly over the past days, and immediately after breaking it, a lot of supply orders were sent into the market plunging the price. Read more on our latest BTC price analysis.