Share this article
Bitcoin Dips $1k in 1 Hour as Markets Take a Hit
The cryptocurrency markets fell sharply on July 10, denying a bullish breakout that looked primed to test its recent 2019 highs.
Updated Sep 13, 2021, 9:25 a.m. Published Jul 11, 2019, 1:37 a.m.
The cryptocurrency markets fell sharply on July 10 after bitcoin suffered another $1000 sell-off, denying a bullish breakout that looked primed to test its recent 2019 highs.
From around 14:00 UTC on July 10, BTC shed $962 from its price tag in a little over an hour, landing just above the $12,000 psychological support before another wave of sellers dragged it to a peak low of $11,550.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Prices had initially attempted to rally above $13,200 but were stopped short as a quick reversal to momentum brought prices reeling back below $12,000.
BTC’s price has since recovered slightly and is currently changing hands at $11,813.
The move down was also accompanied by a large surge in total trading volume of $3.8 billion over a 24-hour period as traders looked to book profit and exit the markets in quick succession amid declining crypto prices across the board, according to CoinMarketCap data.
Major names such as ether , , and also began to fall in value at around the same time as BTC, losing between 6-11 percent in just under 4-hours.
Further, the total market capitalization of all cryptocurrencies combined suffered a $27.1 billion loss over 24-hours, marking one of the largest single-day losses in market value since June 28, 2019.
The short-term remains volatile, so BTC could experience a bounce on today’s momentum, but that will need to be accompanied by strong levels in growing (bullish) volume in order to end the recent sell-off still being felt.
Disclosure: This author holds no cryptocurrency at the time of writing.
Roller coaster image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
