Bitcoin price (BTC/USD) tops $10,500 thanks to strong Monday morning surge

The original cryptocurrency, Bitcoin (BTC), experienced some solid weekend trading, which helped it stabilise above the $10,000 mark. While the digital coin saw some negative price action on Saturday was able to defend the $10,000 level and eventually closed the session at $10,231.74.

The coin then managed to recoup most of its Saturday losses during the following session. BTC finished the Sunday session at $10,345.81, up from its opening level of $10,233.01. The coin had risen to as high as $10,487.07 earlier in the session.

Bitcoin has further strengthened its position during today’s morning trading. After experiencing a sharp rise at around 08:00 BST, the Bitcoin price hit a five-day high of $10,720.00. The coin has since pulled back to slightly lower levels and now appears to be stable near the $10,700 mark.

Today’s surge appears to be supported by improved market activity, with BTC’s 24-hour trading volume having topped $15 billion, according to data from Coinmarketcap. This is a significant increase from the $13 billion that was generated on Sunday and the $13.7 billion posted Saturday. However, trading activity is still relatively weak, especially compared to the Friday and Thursday sessions, which both saw volumes in excess of $20 billion. Bitcoin saw some major price moves during those sessions, including a few drops below $10,000.

In today’s trading, the Bitcoin price stood at $10,696.17, as of 11:22 BST. The digital currency has gained just over 4% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $191.3billion, which represents 68.7% of the combined value of all digital currencies.

Featured image: chanchai howharn / Shutterstock.com

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