The Bitcoin price (BTC/USD) has tumbled to a near one-week low on Wednesday amid a continuing cryptocurrency downtrend.
The original cryptocurrency had a difficult trading session yesterday, as it dropped below the $10,000 mark for the first time since July 16. The digital coin opened the session at $10,346.75, which remained its highest price level for the day. While the coin fell below $10,000 mark in early trading, it managed to hold above the $9,900 level for most of the remaining session. The coin even briefly recaptured the $10,000 level, rising to around $10,200 during the final hours of the session. Still, a sharp drop late on Tuesday, brought the coin’s price down to a closing level of $9,900.77, its lowest in six days.
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BTC continued to decline during today’s morning trading, with its price falling to a six-day low of $9,634.45 shortly after the start of the session. The coin has since managed to recoup some of it early losses, but has remained below the $10,000 level. At the time of writing, the Bitcoin price was hovering around the $9,760 mark, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s latest drop has coincided with a larger downward trend observed across the digital currency market. Most major digital coins have seen price declines over the past 24 hours. In fact, apart from the stalecoin Tether (UDST), the only top 10 digital currency posting gains over that period is EOS. The eight-largest digital coin has gained 3.6% over that period, compared to Bitcoin’s 2.3% loss. Binance’s native token BNB has been among the biggest losers with a 4.3% drop.
In today’s trading, the Bitcoin price stood at $9,769.35, as of 11:10 BST. The digital coin’s total market capitalisation currently stands at $174.2 billion, which represents 65% of the combined value of all digital currencies.
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