The Bitcoin price (BTC/USD) has managed to retake the $10,000 level following a major spike that occurred in today’s early trading.
The original cryptocurrency experienced significant difficulties following its sharp drop in late Tuesday trading. The coin tumbled to as low as $9,614.31 on Wednesday, which was its lowest price level since July 18. While BTC enjoyed a brief period of positive price action in the afternoon, when it rose to an intraday high of $9,908.80, the coin eventually finished the day in the negative territory. According to data from digital currency tracker Coinmarketcap, Bitcoin closed the session at $9,811.93, down from its opening level of $9,887.73.
Shortly after the start of today’s session, however, BTC experienced another uptick, which helped it recapture the $10,000 level. The coin rose to as high as $10,154.25 during that jump and, while its price has pulled back to lower levels in subsequent trading, it has remained mostly stable. At the time of writing, the Bitcoin price was hovering around the $10,100 mark.
Altcoins on the rise
The wider digital currency market has also seen some relief after the recent poor trading. All digital currencies in the crypto top 10 are posting solid gains for the most recent 24-hour period, with EOS being the best performer, having gained 9.2%. Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) are some of the other major altcoins that have outperform BTC over that period. As a result, the Bitcoin dominance – an indicator that tracks BTC’s share of the overall crypto market cap – has dropped below 65%.
In today’s trading, the Bitcoin price stood at $10,089.65, as of 11:25 BST. The digital coin has gained 3.6% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at almost $180 billion, which represents 64.7% of the combined value of all digital currencies.
Featured image: chanchai howharn / Shutterstock.com
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