What many didn’t think would transpire has; Bitcoin has just minutes ago plunged under $5,000 as the sell-off in global markets has continued. The price of the leading cryptocurrency is now at $4,700 as of the time of writing this. This comes as the S&P 500 and Dow Jones have posted their worst performance since the crash of 1987.

Ethereum has dropped to $103.

As it stands, Crypto Twitter is in disbelief, with many remarking that the technicals for the cryptocurrency remain in uncharted territory. As it stands, the cryptocurrency has fallen below its 200-week moving average, a level which was crucial for the asset.

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