Crypto-bloodbath continues: BTC/USD breaches $8,000

Another black day in the crypto-universe is seeing Bitcoin grinding lower and briefly piercing the $8,000 key support, levels last traded in late November 2017. The most-traded cryptocurrency is down more than 30% since Monday’s peaks just below $12,000.

Potential regulatory intervention continues to poise as the almost exclusive driver for the cryptos massive sell-off, sparked in late January when BTC/USD was hovering above the $17,000 mark.

Furthermore, Ripple is testing the $0.72 area, the lowest level since late December, while XRP/USD is down around 78% since all-time peaks around $3.32 recorded in early January.

In the same direction, ETH/USD is hovering over the area of 2-week lows near $820.

According to coinmarketcap.com, Bitcoin’s market capitalization stays around $138,700,000,000, Ripple’s near $29,000,000,000 and Ethereum just below $84,000,000,000.