The price of bitcoin and other cryptocurrencies are continuing to slide after a “flash crash” that knocked $100 billion off the market.
The early part of the week had seen a remarkable period of stability, with its price moving by less than half a per cent between Tuesday and Wednesday.
But that came to an end on Thursday, when prices dropped suddenly, apparently as a result of fresh concern about regulation.
The drop affected not only bitcoin but other leading cryptocurrencies, including Ethereum (ether), dogecoin, and Cardano (ada), which had seen a similar stint of stability in recent days.
The latest crypto market data from analytics firm Glassnode shows that there has been a significant uptick in so-called whale accounts, which is typically a bullish signal.
An increase in crypto whales – addresses holding more than 1,000 bitcoins – occurred in tandem with the record-breaking run that took bitcoin to its all-time high above $64,000 in April.
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