Bitcoin Tests $8,000 Level as Sell-Off Spills Into Third Week
- Largest digital coin tests key technical level and bounces off
- China takes new steps to crack down on crypto trading
This article is for subscribers only.
As Bitcoin’s recent sell-off accelerates, some technical indicators are pointing to further pain ahead.
The largest cryptocurrency’s slide snowballed on Monday, with the price dropping as much as 5% to test the key $8,000 level, which it hasn’t breached since the end of October. Bitcoin also bounced off its 200-day moving average line -- a drop below it could trigger a sell signal.