Early hours of Monday morning saw the crypto market nosediving, along with the futures and other European market indices. The crypto market continues it sell-off that started over the weekend. Bitcoin (BTC-USD) was trading at $34,786 (-2.43%), Ethereum (ETH-USD) at $2,171 (-0.85%), Dogecoin (DOGE-USD) at $0.266 (-0.018%) and XRP (XRP-USD) at $0.731 (-2.81%).
The sell-off gathered pace as China increased its grip on its crackdown of bitcoin miners. It extended the clampdown on the bitcoin mining industry to its biggest bitcoin producing provinces. The total crypto market value decreased to $1.4tn in the last 24 hours, losing nearly 8%, according to data from CoinMarketCap.