Around $400 billion has exited the crypto asset space since Friday in what has been one of the largest mass selloffs of coins and tokens.
Total market capitalization had fallen to a three-month low of $1.45 trillion during Monday morning’s Asian trading session. The massive correction has seen markets dump around 43% since their peak of $2.55 trillion on May 12.
Bitcoin has led the slump, as usual, dropping 6% on the day in a fall to $35,000 at the time of press. BTC hit an intraday low of $31,400 on Sunday but has managed to recover a little since then.
Chinese Miners Down Tools
The fear and uncertainty has stemmed from China as usual and its latest crackdown on Bitcoin mining operations. According to a Reuters report on Monday, crypto mining pools HashCow and BTC.TOP, have halted their China operations after Beijing intensified its embargo.
The clampdown was announced on Friday by a State Council committee led by Vice Premier Liu He. BTC.TOP, a leading crypto mining pool, announced
Źródło: https://cryptopotato.com/crypto-selloff-intensifies-as-miners-in-china-down-tools/
