Bitcoin Sets a New Yearly Low, Looks Set to Test $3,000 Very Soon-1.25

Bitcoin is down 10 percent in the past 24 hours and has set a new low for the year. The currency has been struggling to stay above $4,000, but it looks like the bears have the upper hand, at least in the short term. The currency slumped below $3,400 on most markets overnight and has since then looked increasingly likely to head to $3,000. At press time, Bitcoin was trading at $3,377 on BitMEX, Coinbase Pro and Kraken.

The rest of the market has also been heavily battered, with Ethereum trading at $86, Stellar down 17 percent to $0.11 and EOS bleeding heavily to trade at $1.7. For the second day in a row, Bitcoin SV and Tether are the only cryptos in the green in the top 20, with SV climbing to clinch the fifth place.

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