As Bitcoin continues to stumble downwards, every red tick becomes increasingly worrisome for fearful bulls. Early this morning, Bitcoin found itself in a momentary flash crash to the $3,400 mark. Fortunately, traders erased this slip and even contributed to slight gains on the day.
At approximately 6:40am EST, Bitcoin fell from its position around US$3,550, hard, to lows of $3,400 across several major exchanges, such as BitMex and Binance. This represented a drop of over 4% in a matter of minutes, dropping the BTC market cap by over $2.5 billion.