Bitcoin Crash: Sudden Plunge Wipes Out Millions

Market Sell-Off Sends Cryptocurrency Tumbling

The price of Bitcoin crashed suddenly on August 17, wiping out more than $427 million in value. The cryptocurrency plummeted under $60,000 in early U.S. hours on Sunday as a market sell-off continued. The value continued to tumble into Monday, with Bitcoin's price dropping to $61,060, marking a 6.5% loss in just 24 hours.

12% Drop Since Sunday

The continued decline has seen Bitcoin's price fall about 12% since Sunday, dropping to roughly $53,000. The market sell-off has impacted the wider cryptocurrency market, with other major coins like Ethereum and Dogecoin also experiencing significant losses.