Bitcoin Plunges Below $5,000 As S&P 500 Futures Sell-Off Continues

What many didn’t think would transpire has; Bitcoin has just minutes ago plunged under $5,000 as the sell-off in global markets has continued. The price of the leading cryptocurrency is now at $4,700 as of the time of writing this.

This comes as the S&P 500 and Dow Jones have posted their worst performance since the crash of 1987.

Ethereum has dropped to $103.

As it stands, Crypto Twitter is in disbelief, with many remarking that the technicals for the cryptocurrency remain in uncharted territory. As it stands, the cryptocurrency has fallen below its 200-week moving average, a level which was crucial for the asset.