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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
Bloomberg business news
Binance CEO: Cryptocurrency Industry to Get Bigger, Prices to Go Higher

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.