Bitcoin price (BTC/USD) inches closer to $3,900 on Wednesday morning
The Bitcoin price (BTC/USD) has picked up after some sluggish early trading on Wednesday, but it has yet to test the $3,900 level.
The original cryptocurrency had a lacklustre session yesterday, trading below $3,900 amid frequent, albeit minor, price fluctuations. The digital coin rose to as high as $3,891.58 during the opening hours of the session, but shortly after that it tumbled to an intraday low of $3,837.99. This trading pattern persisted throughout the rest of the session, preventing the coin from building positive momentum. BTC finished the session at $3,854.36, down from its opening price of $3,878.70.
Bitcoin had a slow start to today’s trading, with its price hitting a low of $3,837.96 in the opening hours of the session. The coin has managed to rebound in subsequent trading and is currently trading around $3,870, according to data from digital currency tracker Coinmarketcap.
Following Sunday’s volatile trading, Bitcoin has so far managed to defend the $3,800 mark, which eToro’s senior market analyst Mati Greenspan recently described as “a nice place to build support”.
Bitcoin’s trading volume has taken a notable hit this week. On Sunday, the coin posted a daily trading volume of nearly $10.8 billion, which was its highest daily volume in almost 10 months. The market has since calmed down significantly, which led to trading volumes of $9.3 billion and $7.9 billion on Monday and Tuesday, respectively.
Recent market data shows that around $7.7 billion worth of BTC coins have changed hands in the past 24 hours.
In today’s trading, the Bitcoin price stood at $3,868.9, as of 08:36 GMT. The digital coin has gained 0.6% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at nearly $68 billion and represents 51.9% of the combined value of all digital currencies.
