Bitcoin continues to see dwindling price after surging yesterday owing to a Chinese court’s verdict in support of Bitcoin.
The price went from $9200 to $10700 in a twinkle of eye, before seeing a downward movement today.
At the time of writing, available data revealed that nothing less than $103 million has flowed out of Bitcoin market, causing the price to drop to $10200 range.
The indication made Bitcoin (BTC) topped the list of cryptocurrency net outflows in the past 10 hours.
The Bitcoin net outflow was followed by Ethereum and EOS which saw $34.33 million and $11.90 million net outflows respectively.
However, USDT, Binance Coin and EGT markets received more funds as they see $3.32 million, $1.86 million and $1.47 million respectively.
Earlier today, around $19.2 million worth of Bitcoin was moved from Coinbase to an unknown wallet. At the same time, $14.3 million in BTC was moved from an unknown wallet to Bitstamp.
Meanwhile, at the time of filing this report, Bitcoin is slightly trading above $10,300 with around 5% price upsurge in the lasts 24 hours.
The total market cap of Bitcoin stays around $184 billion with the cryptocurrency market cap totaling $280 billion.
Other cryptocurrencies are also slightly performing. However, Litecoin is trading around $98 with 6% price increase.
The cryptocurrency market was affected by a series of criticisms faced by Facebook’s Libra from across the globe, especially the questions answered by the head of Calibra, David Marcus this week.
As Facebook’s Libra is being criticized, United States House Representative member, Patrick McHenry, has said Libra Coin may be condemned but Bitcoin cannot be killed by anybody since it does not belong to any country, anybody or any financial institution.
The US representative stood in support of Bitcoin despite some congressman criticizing the Facebook’s Libra because it is coming from a platform that has failed in trust and known for series of irregularities.