Crypto currency markets have slumped almost $20 billion as bitcoin and its brethren continue to slide this weekend. The digital avalanche picked up pace around an hour ago when BTC fell through resistance and $11,000 dragging all of the altcoins into the quagmire with it.
BITCOIN BACK BELOW $11k
Bitcoin bounced back to resistance at $11,500 a few hours ago as news emerged that the Tether printers were churning out currency once again. It turned out that the initial reports of $5 billion in USDT flooding the markets were fake and the actual amount was 50 million for part of a swap from Omni to Tron Tether.
Since then Bitcoin has been on the back foot, dumping almost 8 percent, or $900, back to $10,600 which is its lowest level since the beginning of the month. Trader ‘The Cryptomist’ has eyed the charts for the next support levels:
“Mentioned last couple days, I expect this current support to be tested, and here we are. Should this fail, then 10.3k and 9.8k are next regional supports. I have still got my eye on the 8.5k region gap on the chart, if we don’t hold 10k, do not be surprised if we