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Title    Almost All Cryptocurrencies Hammered in Bloodbath
Date    Wednesday June 09, @04:08PM
Author    martyb
from the Flip-a-coin-for-profit dept.

An Anonymous Coward writes:

Bitcoin Price: Cryptocurrency Investors See Red As Market Value Drops:

Crypto investors are waking to sea of red this morning as the entire market took an absolute hammering overnight for the second time in just a few weeks.

The price of bitcoin fell sharply on overnight, approaching a dreaded $US30,000 ($A38,800) threshold it has not crossed since January and dragging other cryptocurrencies in its wake.

At around 2am, bitcoin fell 8.6 per cent to a value of $US31,501 ($A40,715), a level not seen since mid-May, when the volatile cryptocurrency temporarily lost 30 per cent in one session.

The second-largest cryptocurrency, ethereum, lost 11.2 per cent of its value, falling to $US2361 ($A3051).

Bitcoin's value has recovered slightly since the drop, rising to $US33,738 ($A43,606) at around 7am today – but, across the board, almost all of the smaller cryptos have been battered overnight.

[...] No concrete reason appeared to explain the price drop on Tuesday, but some analysts pointed to the seizure of $2.3 million ($A3 million) worth of bitcoin belonging to the Darkside hackers by US authorities as a possible factor.

[...] The US managed to recover almost all the bitcoin ransom paid to the perpetrators of the cyber attack on the Colonial Pipeline last month.

[...] It is being seen as a sign that law enforcement is capable of pursuing online criminals even when they operate outside the nation's borders – and, crucially, that crypto isn't beyond government control.

Original Submission


  1. "Bitcoin Price: Cryptocurrency Investors See Red As Market Value Drops" -
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printed from SoylentNews, Almost All Cryptocurrencies Hammered in Bloodbath on 2021-06-14 07:51:02