The Bitcoin price (BTC/USD) has enjoyed some solid over the weekend, which has allowed it to defend a recent break above the $6,700 barrier.
The flagship cryptocurrency broke above the $6,700 level during the Friday session, which it closed at an intraday high of $6,719.96, up from an opening level of $6,551.52. The digital coin had few problems defending its gains on Saturday, though it wasn’t able to extend it rally much further. The coin notched up a close of $6,763.10, according to data from digital currency tracker Conmarketcap.
The Sunday session proved more challenging, as Bitcoin’s performance was hindered by frequent price fluctuations. The digital currency fell to an intraday low of $6,620 in the morning session, but it managed to recover some of its losses in the afternoon, which allowed it to notch up a close of $6,707.26.
While the original cryptocurrency has seen some dips since the start of today’s session, it has been able to bounce back. At the time of writing, the Bitcoin price was hovering around $6,725.
While modest, Bitcoin’s latest gains are notable, as they came in the wake of the US Securities and Exchange Commission (SEC)’s rejection of nine Bitcoin ETF proposals on Wednesday. The Bitcoin price appeared to shrug off the news quit easily, which prompted some observers to praise the coin’s resilience. The cryptocurrency may have been aided by a subsequent announcement, informing that the rejection orders had been stayed and would be reviewed by senior SEC officials.
In today’s trading, the Bitcoin price stood at $6,727.44, as of 10:26 BST. The digital coin has gained 0.9% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at nearly $116 billion, which represents 53.3% of the total value of all digital currencies.
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