Bitcoin price continues to fall, losing $ 17,000 in biggest crash since March

Bitcoin (BTC) continued to decline on November 26 as the selling pressure turned into the largest losses – in US dollars – since March.

Bitcoin Price Loses Over $ 3,000 In 24 Hours

Data from Cointelegraph Markets and TradingView tracked BTC / USD as it lost support at $ 17,000 to hit new local lows of $ 16,300.

At the time of going to press, a rebound had insured $ 16,800, but high volatility persisted. The latest losses continue a downtrend, which began overnight Wednesday, shortly after Bitcoin hit highs slightly below $ 19,500.

At the same time, the main exchange OKEx announced that it has reinstated withdrawals. Ki Young Ju, founder of chain analysis service CryptoQuant, highlighted the increase in OKEx’s exit activity to wallets and other exchanges.

“BTC flows from OKEx to all other exchanges reached 493 BTC at that time,” he said. wrote in his latest Twitter update.

“83% of total exits went to non-exchange wallets like custody. This could be a long term bullish signal. “

US Regulatory Warnings

Further bearish fuel came from Brian Armstrong, CEO of Coinbase, who commented on recent rumors that the United States plans to introduce new regulations governing self-hosted cryptocurrency wallets.

“If this crypto regulation were to come out, it would be a terrible legacy and have long-standing negative impacts for the United States. In the early days of the Internet, there were people who called for it to be regulated like the telephone companies. Thank God they did not do it, ”he warned.