Bitcoin (CRYPTO: BTC) dropped bearishly through a falling channel pattern on the daily chart during Friday’s 24-hour trading session, which is the opposite of how the crypto has reacted to the same pattern since mid-July.
The downward move preceded a bearish day in the general markets, where the S&P 500 opened slightly lower and became pressured intraday, losing about 1.34%.
Bitcoin’s sharp decline dragged the crypto sector down with it, Ethereum (CRYPTO: ETH) was plunging over 8% in unison, Dogecoin (CRYPTO: DOGE) was sliding over 7% while Ethereum Classic, one of the hardest hit of the popular crypto’s was plummeting over 11%.
The reason for the steep decline isn’t immediately clear. Bitcoin’s daily volume …
Full story available on Benzinga.com