Bitcoin price (BTC/USD) drops below $6,500 after volatile weekend

The appears to have stabilised above $6,000, but lacks momentum to further its advance

Bitcoin price (BTC/USD) drops below $6,500 after volatile weekend

The Bitcoin price (BTC/USD) has slipped below the $6,500 support after seeing some rocky trading over the weekend.

The original cryptocurrency performed strongly during Saturday’s morning session, with its price reaching a nine-day high of $6,617.35. The digital coin’s performance took a turn for the worse in the afternoon, when a sudden drop brought its price down to an intraday low below $6,400. The coin eventually finished the session at $6,423.76, down from its opening level of $6,583.43.

Bitcoin spent most of the following session trading below the $6,500 mark, with its price experiencing some volatility during the day. However, a sudden price jump allowed the cryptocurrency to break above the $6,500 barrier. Its price reached an intraday high of $6,537.98, before finishing the session at $6,506.07.

Despite the strong finish on Sunday, Bitcoin has not been able to further its advance in today’s morning session. The coin rose to an intraday high of $6,536.98 in the early hours of the session, but it has been going downhill since then. At the time of writing, the Bitcoin price was hovering around $6,490, according to data from digital currency tracker Coinmarketcap.

As a whole, the cryptocurrency market has seemingly managed to stabilise following its recent lows. Last week, the Bitcoin price slipped below the $6,000, while the crypto market’s total size fell below $200 billion for the first time this year. At the time of writing the total value of all digital coins was about $215 billion.

In today’s trading, the Bitcoin price stood at $6,489.82, as of 09:20 BST. The digital currency has gained 1.4% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $111.7 billion, which makes up 51.8% of the entire market.

For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.

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