Bitcoin (BTC) has continued falling on Nov. 26 as selling pressure transforms into the biggest losses — in terms of U.S. dollars — since March.

Bitcoin price sheds over $3,000 in 24 hours

Data from Cointelegraph Markets and TradingView tracked BTC/USD equally information technology lost support at $17,000 to hit fresh local lows of $16,300.

At press time, a rebound had secured $xvi,800, but heavy volatility remained. The latest losses continue a downtrend, which began overnight on Wednesday, shortly after Bitcoin hit highs of simply below $19,500.

BTC/USD eight-calendar month daily chart. Source: TradingView

At the same fourth dimension, major exchange OKEx announced that it had reinstated withdrawals. Ki Young Ju, founder of on-chain analytics service CryptoQuant, highlighted increased outflow activity from OKEx to both wallets and other exchanges

"BTC flows from OKEx to all other exchanges hit 493 BTC at that fourth dimension," he wrote in his latest Twitter update.

"83% of full outflows went to not-exchange wallets like custody. Information technology could exist a bullish betoken in the long-term."

Warnings over United states regulation

Additional bearish fuel came from Brian Armstrong, CEO of Coinbase, who commented on recent rumors that the United States plans to introduce new regulation governing self-hosted cryptocurrency wallets.

"If this crypto regulation comes out, it would be a terrible legacy and have long standing negative impacts for the U.S. In the early days of the internet at that place were people who called for it to be regulated like the telephone companies. Thank goodness they didn't," he warned.