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Stock sell-off tanks Bitcoin price, but traders expect a bounce near $42K

Published 09/20/2021, 04:05 PM
Updated 09/20/2021, 05:40 PM
Stock sell-off tanks Bitcoin price, but traders expect a bounce near $42K

The cryptocurrency market faced a fresh round of selling on Sept. 20 as global financial markets fell under pressure thanks to fears surrounding the potential default of Evergrande Group, a China-based real estate company whose collapse could send ripples across equities markets.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning sell-off in Bitcoin (BTC) intensified into midday as the price dropped to a low of $42,493 before bulls managed to bid it back above $43,500.

BTC/USDT 4-hour chart. Source: TradingView
BTC/USD 4-hour chart. Source: Twitter (NYSE:TWTR)

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