In the past three sessions, there was a sharp increase in selling pressure on bitcoin, resulting in a downside break below the USD 7,850 support area. BTC/USD declined more than 7% and traded below the USD 7,650 support. It is currently (09:00 UTC) trading near USD 7,500, with a negative bias.
Also, many major altcoins dived between 5%-10%, including ethereum, XRP, bitcoin cash, litecoin, EOS,