The Bitcoin price (BTC/USD) has broken through the $6,400 barrier thanks to a sharp rise that started developing in yesterday’s late trading.
The original cryptocurrency spent the better part of yesterday’s session on a downward trajectory, with its price dropping to a near three-week low of $6,294.57 in the afternoon. However, the cryptocurrency experienced a strong rebound in the final hours of the session, which swiftly erased its losses for the day. Bitcoin finished the session at $6,376.13, slightly up from its price of $6,365.47.
Bitcoin’s sharp advance continued in the early hours of today’s trading, which allowed the coin’s price to reclaim the $6,400 level. The digital coin rose to an intraday high of $6,480.59 earlier today, hitting its highest price level in four days. While the coin has pulled back to lower levels in subsequent trading, it has managed to defend the $6,400 mark. At the time of writing, the Bitcoin price was hovering around $6,430, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s price rally has coincided with an uptrend observed across the broader cryptocurrency market. All top 10 digital coins have seen gains over the past 24 hours, with some altcoins, namely Ethereum (ETH) Bitcoin Cash (BCH) and Monero (XMR), outperforming BTC by a significant margin. As a result, the total value of the crypto market has risen above $210 billion, with the Bitcoin dominance having fallen to 52.7%.
In today’s price, the Bitcoin price stood at $6,429.25, as of 10:41 GMT. The digital coin has gained almost 1% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $111.6 billion, which represents 52.7% of the combined value of all digital currencies.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.