The price of the leading cryptocurrency Bitcoin [BTC] has fallen over $500 USD in within just half an hour, deepening a two-day sell-off that pushed it to its lowest point since the starting of this month.
The price was down 6.09% on the day to $10,648 USD at the time of reporting.
The move down came after a recent report that exchange platforms were witnessing elevated inflows of bitcoin, potentially a symbol that some investors were preparing to liquidate a large number of their holdings.
In line with a recent official tweet published earlier today:
“The Inflows surged as people rushed to sell at near $12k USD,” Philip Gradwell, chief economist at the blockchain intelligence firm Chainalysis.”
United States stock futures were down and the dollar was gaining in foreign-exchange markets early Thursday.
A United States government report early Thursday showed jobless claims dropping to 881,000, the bottom since the COVID-19 outbreak struck earlier this year, though still elevated compared with historical levels.