As the bitcoin price plunged below the $200 mark, hitting a low of $170.08, holders of the cryptocurrency sold the asset in a surge of millions of orders across bitcoin exchanges globally.
With the price teetering on the brink of the $200 level around 07:20 (GMT), global exchange trading volume began to pick up. The number of trades per minute executed on exchanges tripled, from around 1,000 to 3,370 at its peak, according to data from Bitcoinity.
As trading velocity spiked, the total amount of volume hitting exchange order books grew to a high of 183,000 BTC (roughly $36.6m).
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