Bitcoin Price Suddenly Drops Below $7K, Crypto Market Under $200B

Bitcoin (BTC) price dropped nearly $200 in minutes on April 10 to slide below $7,000 for the first time in four days.

Data from Coin360 and Cointelegraph Markets showed BTC/USD now dropping below the tight $400 corridor between $7,100 and $7,410 where it had stayed for most of the week.

The sudden drop from $7,150 to $6,915 also formed the most volatility seen in recent days and, at press time, Bitcoin is trading around $6,960.

As previously expected by some traders, the small price rise did not occur from the $7,200 levels going into Friday. However, the $6,900 has shown to be the first line of defense for the bulls. If this level fails to hold, then trader Michaël van de Poppe expects low $6Ks next.

"We might be getting a liquidity tap towards $7,500-7,700 area, after which I'm expecting a sharp decline," Van de Poppe said late on Thursday.

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