Markets have taken a vertiginous plunge today, with Bitcoin losing almost $500 on the day to dip below $7,000 and all the top ten crypto assets in the red. Crypto markets have taken a vertiginous plunge today, August 4, with Bitcoin (BTC) losing almost $500 in the six hours before press time to dip below $7,000, and all of the top ten cryptocurrencies by market cap in the red, as data from Coin360 shows.

Market visualization from Coin360 Bitcoin (BTC) is trading around $7,028 to press time, having lost almost $500 on the day to plummet to a price point not seen since July 17. The leading cryptocurrency has seen an intra-day low of $6980, with some crypto analysts today noting that $6,800 has become its short-term critical support level.

Bitcoin’s price percentage loss on the day is near 7 percent, with a weekly loss of about 15 percent and monthly gains squeezed to just 5 percent. Bitcoin’s 7-day price chart.

Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) has seen a markedly less pronounced drop on its daily chart, losing just over 2 percent over a 24-hour period to press time to trade around $404. The altcoin’s fortunes have been shaky much of the week, having seen jagged losses since July 29, when the asset was still trading as high as $470.

On the week, Ethereum is down over 13 percent, with monthly losses at nearly 15 percent. Ethereum’s 7-day price chart. Read more from…

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