Cryptocurrency Market Plunges InTo The Red Territory

The cryptocurrency market is in a deep red territory following rumors of the US Treasury Department charging financial institutions of money laundering through digital assets.

Popular Twitter account FXHedge sent out a warning to its 130,000 followers  of a potential move from the agency citing unnamed sources.

The tweet may have  caused bitcoin, ethereum and most of the altcoins to plummet down from a range of 10% to 17% from its initial price.

A record $9.81 Billion of liquidation is experienced by the market for the last 24 hours.

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