The Bitcoin price (BTC/USD) has seemingly managed to secure a stable position above the $10,000 mark following a solid performance over the past 24 hours.
The original cryptocurrency had a quiet morning session on Thursday, trying to stabilise above the $10,000 level it had recaptured on Wednesday. After spending hours hovering around the psychological level, the digital coin surged in the afternoon and managed to top the $10,400 mark for the first time in 10 days. BTC rose to as high as $10,446.92, before eventually finishing the day at $10,399.67. That close was significantly higher than the coin’s opening level of $10,077.44.
While the coin’s price slowed down considerably during the opening hours of today’s session, the coin has managed to amass further gains in more recent trading. BTC rose to an 11-day high of $10,559.37, before pulling back to slightly lower levels. At the time of writing, the Bitcoin price was still hovering above the $10,500 mark, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s advance, which has been supported by an uptick in trading volumes, appears to be part of a larger digital currency uptrend. Most major digital coins, including Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), have seen price increases over the past 24 hours. Bitcoin Cash’s offshoot, Bitcoin SV (BSV), has been the best performer in the crypto top 10 over that period.
Some observers believe that the market received a boost from the US Federal Reserve’s recent decision to slash interest rates by 0.25%.
In today’s trading, the Bitcoin price stood at $10,537.44, as of 10:05 BST. The digital coin has gained 5.7% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $188.1 billion, which represents 65.9% of the combined value of all digital currencies.
Featured image: Inked Pixels / Shutterstock.com
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