Bitcoin has rapidly corrected lower in the past hour. In the span of thirty minutes earlier this hour, the leading cryptocurrency slid from $11,520 to a low near $11,200. Bitcoin has since recovered to $11,275 as buyers have stepped in at those pivotal lows, an important region of technical support.
The cryptocurrency is down 2% in the past 24 hours after this correction. Altcoins are underperforming the leading digital asset, with Ethereum losing 3% as other altcoins fall even more.
Chart of BTC’s price action over the past few hours. Source: BTCUSD from TradingView.com
The move lower comes after it was revealed that OKEx, a leading cryptocurrency exchange processing billions in volume, had frozen withdrawals.
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