Market-Wide Losses Intensify in Second Day of Major Crypto Price Plummet

Thursday, September 6: crypto markets are blisteringly red, with virtually all of the top 100 coins posting hefty losses on the 24-hour charts, as Coin360 data shows.

Bitcoin (BTC) is trading at around $6,492 at press time, down almost 6.32 percent on the day, according to Cointelegraph’s Bitcoin Price Index.

Having broken through the $7,000 threshold August 31, Bitcoin saw a solid uptrend until its sudden plummet yesterday, September 5. The top coin is now around 8 percent down on its weekly chart. On the month, however, Bitcoin remains up by around the same figure of 8 percent.

• "Bitcoin’s 7-day price chart. Source: Cointelegraph's Bitcoin Price Index"

Ethereum (ETH) is trading around $225 at press time, losing 8 percent on the day. Following upon an intra-week high to scrape $300 September 1, Ethereum traded sideways around $290 until yesterday’s sudden descent.

On its weekly chart, Ethereum is down a hefty 21.8 percent, with monthly losses burgeoning to 44.8 percent.