The Bitcoin price (BTC/USD) has experienced a correction following an eventful weekend that saw it topping the $6,800 mark for the first time in more than two weeks.
After securing a close above the $6,700 mark on Friday, the original cryptocurrency continued its advance during the Saturday morning session, rising to a 17-day high of $6,814.56. However, this was followed by a steep decline that led to its price hitting an intraday low of $6,616.80. The coin continued to experience some mild price swings in the afternoon, but eventually notched up its second consecutive close above $6,700, finishing the session at $6,721.98.
The Sunday session was a relatively quiet one for Bitcoin, with the coin mostly hovering in the low $6,700 area. It did rise to an intraday high of $6,766.15 in the early afternoon, an uptick that was immediately followed by a drop to $6,679.42. The digital currency finished the day at $6,710.63, slightly lower than its opening level of $6,715.32.
Following the action-packed weekend, the Monday session has so far been disappointing for the No. 1 digital currency. According to data from digital currency tracker Coinmarketcap, Bitcoin has dropped to around $6,650 following a slow, but steady decline in today’s morning trading.
Bitcoin’s losses appear to be part of a larger price correction, observed across the broader digital currency market. Most major virtual coins, including Ripple (XRP) and Litecoin (LTC), have lost around 5% or more over that period.
In today’s trading, the Bitcoin price stood at $6,652.64, as of 10:05 BST. The digital currency has lost 1.3% of its vale in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at almost $115 billion, which represents 52.2% of the combined value of all digital currencies.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.