The Bitcoin price (BTC/USD) has dropped closer to the $6,400 mark on Friday, struggling amid a corrective trend that developed during yesterday’s session.
The original cryptocurrency had a disappointing session yesterday, as it felled below the $6,500 level that it had topped on Wednesday. The digital coin experienced a significant drop in the early hours of the session, with its price falling to around $6,480, from an opening level of $6,522.27. The coin made an attempt to recover its losses in the early afternoon, when it came close to returning to the positive territory. However, this resurgence ultimately proved to be a brief one, as it was followed by a drop that was even steeper than Bitcoin’s earlier decline. Bitcoin fell to an intraday low of $6,438.53 in the final minutes of the session, but eventually finished the day at $6,453.72.
The coin has seen further losses in today’s morning trading and it even experienced a dip below the $6,400 mark. BTC dropped to a four-day low of $6,393.37 in recent trading, according to data from digital currency tracker Coinmarketcap. At the time of writing, the Bitcoin rice was hovering around $6,410.
Bitcoin’s decline appears to be part of a larger correction following the market’s rise earlier this week. Most top 10 digital coins have seen some losses in the past 24 hours. The only major altcoin bucking the trend is Stellar, whose value has increased by 2.5% over the same period.
In today’s trading, the Bitcoin price stood at $6,407.75, as of 10:43 BST. The digital coin has lost 1.1% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $111.3 billion, which represents 52.1% of the combined value of all digital currencies.
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