BTC/USD seesaws around $12,500 after latest drop turned Coinbase offline

  • BTC/USD fails to hold the 17-month top, plunges close to $2,000 before trading modestly flat.
  • The Coinbase couldn’t sustain the price crash and went offline.

Bitcoin sellers sneaked in around the highest level since January 2018 and triggered the Coinbase terminals' crash during early morning in Asia before the BTC/USD pair takes the rounds close to $12,500.

The cryptocurrency pair surged to the high of $13,862 on Wednesday prior to trimming almost $2,000 to flash the low of $11,640 by the day-end/early Asia.

The US-based cryptocurrency exchange Coinbase couldn’t handle flux of sellers and went off-line with the statement saying "An error has occurred. We've been notified about the issue and are taking a look."

However, around 09:00 PM GMT, the Coinbase further reported that fix for the outage has been implemented while the results are being monitored.

Technical Analysis

While recent highs surrounding $14,000 round figure may act as an immediate resistance, January 2018 top surrounding 17,200 could be next on the bulls’ radar.

On the downside, January 20 high around 13,000 and last week’s peak near $11,266 can lure sellers during the pullback

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin will surpass gold by market value and cost over $500 000 in 9 years - Bobby Lee

One bitcoin will half a million dollars by 2028, according to Bobby Lee, the co-founder and the former CEO of China's lowest cryptocurrency exchange BTCC.

More Bitcoin News

Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis

Stellar (XLM) recovered from the recent low of $0.0683 to trade at $0.0815 on Sunday. By the time of writing, the coin has partially reversed the gains and settled act $0.0778; however, it still enjoys 3% of gains on a day-to-day basis. 

More Stellar Lumens News

Ethereum price analysis: ETH/USD sits in a long-term range

ETH/USD is trading at $186.57 at the time of writing, having retreated from the intraday high of $190.28. The second-largest digital asset with the current market value of $20.3 billion has lost 1.34% of its value since the beginning of Monday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price update: Reignited bearish momentum targets $0.27

Ripple continues to be depressed towards $0.27 (recent support). It is clear recovery towards $0.30 is nothing but a mirage based on the current technical picture.

More Ripple News


Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast