Bitcoin (EXANTE: Bitcoin) has suddenly dropped to the $28,000 mark, losing over 20% over the last 24 hours. According to data from ByBt, there has been $8.59 billion in total liquidations over the past 24 hours.
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The lowest price of bitcoin was registered on BitMEX, where the cryptocurrency quickly touched $28,157 and then bounced back to the $35,784 mark. Bitcoin's market capitalization has dropped down to $701.2 billion. As of press time, BTC is trading at $37,755, while the whole cryptocurrency market is down by 18.65% over the last day.
As iHodl earlier reported, China once again warned its financial institutions from offering any services to cryptocurrency-related clients. According to a joint statement from the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China, banks and online payments channels are now prohibited from offering clients any service involving cryptocurrency.
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