CryptoWatch: Bitcoin slumps below $7,000, nearing 2018 low

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Major cryptocurrencies took another leg lower overnight as the persistent selling persisted, pushing most to multimonth lows.

The price of a single bitcoin BTCUSD, -5.37% traded to an overnight low of $6,617.69, homing in on the Feb 6. low of $5,947.40, a major support level for technical traders. Bitcoin, however, has had a modest pop, last trading at $6,750.19.

The overnight fall took the total value of all cryptocurrencies toward $250 billion, and at one point that total value shed $20 billion in six hours.

The carnage culminated when OKEx — a Hong Kong-based crypto trading platform — was forced to roll back transactions after its futures markets plunged, trading up to $2,000 below the cash market in what the company called “irregular” activity.

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