It is not uncommon for major cryptocurrency exchanges to experience technical issues during periods of extreme volatility
Cryptocurrency exchange Coinbase started experiencing technical issues earlier today, with trades “intermittently failing.”
According to the exchange’s status page, the issue has been identified.
At press time, the exchange is in the process of implementing a fix.
A massive sell-off
In the meantime, the cryptocurrency market is currently in the middle of a massive sell-off, with Bitcoin being just a hair’s breadth away from slipping below the pivotal $20,000 level. It is on track to record its worst day since June.
The cryptocurrency market has been hit extremely hard by a fresh Consumer Price Index (CPI) report that showed higher-than-expected inflation.
Cryptocurrencies predictably plunged together with stocks. The Nasdaq-100 index is down 5.73%.