The Bitcoin price (BTC/USD) is looking to stabilise above the $10,000 mark, following a strong Wednesday session that allowed it to top the psychological level for the first time in four days.
The original cryptocurrency had a very positive trading session on Wednesday, especially during the afternoon, when it managed to break above the $10,000 level. After spending the entirety of the day moving on an upward trajectory, the digital coin finished the day at $10,085.63, well above its opening price of $9,604.05. This close was Bitcoin’s highest level for the day.
Benefiting from yesterday’s strong finish, Bitcoin rose to a five-day high of $10,109.77 during the opening hours of today’s session. However, the coin’s rally has come to a pause in subsequent trading, as the BTC price has pulled back to sub-$10,000 levels. At the time of writing, the Bitcoin price was hovering around the $10,000 mark, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s solid performance yesterday was supported by stronger market activity, the data shows. The coin’s daily trading volume reached $16.6 billion on Wednesday, which was significantly higher than the $13.8 billion generated in the preceding session. In the past 24 hours, around $16.8 billion worth of BTC coins have changed hands.
Despite retaking the $10,000 mark on Wednesday, Bitcoin was not able to extend its streak of monthly gains. Prior to July, the coin had been on a five-month winning streak, as part of its impressive turnaround this year. However, yesterday’s close left BTC with a monthly loss of 6.5% in July.
In today’s trading, the Bitcoin price stood at $9,982.41, as of 10:03 BST. The digital currency has gained 2.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $178.2 billion, which represents 65.1% of the combined value of all digital coins.
Featured image: Visual Generation / Shutterstock.com
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