Thursday, Sept. 26 — Bitcoin (BTC) has dipped beneath $7,800 after the coin touched its four-month lows on Sept. 24.

Market visualization

Market visualization. Source: Coin360

Everyman levels since spring

Bitcoin entered crude volatility this calendar week afterward the largest cryptocurrency crashed $i,500 in 24 hours on Tuesday to bear upon the $8,000 threshold. After seeing signs of recovery earlier today, Bitcoin has seen some other sharp sell-off, from an intraday high of around $8,600 to as low equally $7,830 at printing time, according to Coin360.

Bitcoin is downward 5.iii% over the past 24 hours at press time, seeing a massive drop of more than 21% over the by 7 days.

According to Bloomberg data, Bitcoin dropped 9% to trade as low as $7,736 in New York, which is the lowest price for the cryptocurrency since May 2019, co-ordinate to their index.

Bitcoin 24-hour price chart

Bitcoin 24-hr price chart. Source: Coin360

Total market capitalization continues to indicate new multi-month lows crypto markets, downward from $218 billion at the beginning of the day to $209 billion at press time.

Impact of Bakkt'due south new futures production

The new moving ridge of red on crypto markets follows the launch of physical Bitcoin futures by institutional trading platform Bakkt on Sunday, Sept. 22. Earlier today, Cointelegraph reported on new research suggesting that futures settlement dates end upwardly manipulating the Bitcoin price. Specifically, CME Group's Bitcoin futures settlement dates negatively impacted BTC markets, according to Cabalistic Inquiry, which reportedly plant that Bitcoin fell in 75% of the times right away before CME issued payouts in a period betwixt January 2018 to August 2019.

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