Bitcoin's price drops below $ 9,000, pulling the rest of the market

Today, February 26, the first cryptocurrency accelerated the fall, quickly falling below the $ 9000 mark.

The chart below shows that the decline in prices was accompanied by a surge in trading volumes, which indicates significant pressure from sellers:

TradingView Bitstamp BTC / USD hourly chart

Note that the BTC price fell below the 200-day moving average:

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The wider market is also all in red. For example, the first ten of the most capitalized crypto assets looks like this:

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The total market capitalization is $ 247 billion, the BTC dominance index is 64.5%. At the time of writing, Bitcoin is trading around $ 8700.

Recall that earlier today, RoboForex analysts announced a high probability of continued market correction.