According to Coin360, Wednesday 23 October, the price of BTC fell from $7950 to $7450 for only five minutes.
Although the cause of decline in the price of the asset is not yet clear, this surge marks the end of the period of low volatility of BTC. At the moment the asset is traded at the level of mid-may, slightly below $7500.
We will remind that on 24 September, the BTC price fell below $10,000, and since then tried to recover. However, now the strong bearish momentum pushed it below $8000. It should be noted that an hour before the slump on the stock exchange BitMEX was liquidated long positions to $201.1 million.