The Bitcoin price (BTC/USD) has returned above the $9,000 mark after experiencing a sharp increase in late Thursday trading. However, the digital currency has had a slow start to today’s trading, which might be signalling that the rally is coming to a pause.
The original cryptocurrency struggled for much of yesterday’s trading, falling to an intraday low of $8,727.09. However, its performance improved significantly in the latter part of the session, which allowed the coin to end the day on a high note. Bitcoin ended the session at 9,281.51, significantly higher than its opening price of $8,867.32.
While the cryptocurrency has edged lower since the start of today’s trading, it has so far managed to remain near yesterday’s closing level. At the time of writing, the Bitcoin price was hovering around $9,260, according to data from cryptocurrency tracker Coinmarketcap.
Bitcoin’s recent gains comes amid a larger rebound observed across the cryptocurrency market. The other top 10 digital coins are all posting significant gains for the most recent 24-hour period, with Stellar (XLM) and IOTA (MIOTA) being the standout performers, thanks to their double-digit percentage increases. Stellar’s robust performance have allowed the coin to overtake Cardano (ADA) as the seventh-largest digital currency by market capitalisation. The second most valuable cryptocurrency, Ethereum (ETH), has turned in impressive performance too, gaining 7% over the period.
As a result of the rebound, the cryptocurrency market’s total valuation has returned above the $400-billionlevel and is currently found at the $415-billion mark.
In today’s trading, the Bitcoin price stood at $9,265.59, as of 10:22 BST. The digital currency has gained 5.4% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $157.5 billion, which represents 37.9% of the total value of all digital coins.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.