Bitcoin price (BTC/USD) drops, as cryptocurrency rally comes to a halt

The Bitcoin price (BTC/USD) has seen a significant in today’s trading, though it has held above the $4,000 mark. Earlier in the session the price briefly dropped below the $4,050 support level, but it has since recouped some of its losses. At the moment it is hovering around $4,100, down from its yesterday close of $4,174.73.  According to data from cryptocurrency tracker Coinmarketcap, Bitcoin has lost 3.3% of its value over the past 24 hours.

Most cryptocurrencies are posting similar or even steeper losses, with IOTA being the only digital coin in the top 10 bucking the downtrend. The ‘Internet of Things coin’ has gained 5.2% over the past 24 hours and is currently valued at $0.570. However, this still marks a decline from yesterday, when the IOTA price reached an intraday high of $0.614 and closed at $0.595.

Bitcoin continues to enjoy a strong market activity, boasting a 24-hour trading volume of $1.64 billion. Bitfinex captures the largest share of global trading, mostly thanks to its BTC/USD trading pair, which accounts for 10.5% of the trading volume. Bithumb’s BTC/KRW offering captures 4.65%, while bitFlyer’s BTC/JPY pair has 4.1% of the market activity.

In today’s trading, the Bitcoin price stood at $4,115.12, as of 09:33 BST. The original cryptocurrency has lost 3% of its value over the past 24 hours. Its market capitalisation currently stands at $68.2 billion, which amounts to 48.5% of the total value of all cryptocurrencies on the market.

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