Crypto Today: Bitcoin drops -17%, Ripple jumps +25%

Bitcoin (BTC/USD), the world’s largest cryptocurrency stalled its downward spiral just ahead of the $ 13000 mark, as the bears take a breather after the massive sell-off.

The digital currency eroded more-than $ 2000 in last 12 hours, losing 25% from record highs reached above $ 19,800 levels. There are no catalysts seen behind the sell-off, but markets may have resorted to profit-taking, as they seek to clear out position heading towards the yearly close.

The aggressive selling seen in Bitcoin triggered temporary, built-in trading halts in the bitcoin futures traded on the CME and Cboe. At the time of writing, Bitcoin drops -17.45% to trade at 13,560 while its rival Ethereum followed suit, now down -16.53% at $ 724.81. Bitcoin cash slumps -27% to $ 2,675, despite Coinbase exchange having resolved the issue that halted BTC trading.  In contrast, Ripple rallies 25% to $ 1.23.