Major cryptocurrencies took another leg lower overnight as the persistent selling persisted, pushing most to multimonth lows.
The price of a single bitcoin BTCUSD, +4.37% traded to an overnight low of $6,617.69, homing in on the Feb 6. low of $5,947.40, a major support level for technical traders. Bitcoin, however, has had a modest pop, last trading at $6,750.19.
The overnight fall took the total value of all cryptocurrencies toward $250 billion, and at one point that total value shed $20 billion in six hours.
The carnage culminated when OKEx — a Hong Kong-based crypto trading platform — was forced to roll back transactions after its futures markets plunged, trading up to $2,000 below the cash market in what the company called “irregular” activity.
After halting futures trading @OKEx_ makes the correct move to roll back trades -- everything inside the red box didn't happen/rolled back pic.twitter.com/JrU59u2hUM
— BTCVIX (@BTCVIX) March 30, 2018
“OKEx always has the customers’ best interests at heart, and we are dedicated to providing the best products and technologies to protect our customers. Transactions were suspended for several hours due to the incident. Please accept our sincere apologies for the inconvenience caused,” wrote OKEx on its website.
Other digital currencies have recovered some of the overnight losses. Ether remains under $400, trading at $381.19, down 1.2%, Bitcoin cash is off 3.6% at $691.48, Litecoin has recovered 1% trading at $116.27 and Ripple is below 50 cents, trading down 2.5% at 49 cents.
Read: Here’s how brutal the first quarter was for bitcoin and other cryptocurrencies
Bitcoin futures markets are closed in observance of Good Friday and Passover holidays.