Bitcoin price (BTC/USD) edges lower during quiet Wednesday morning session

Bitcoin price (BTC/USD) edges lower during quiet Wednesday morning session

The Bitcoin price (BTC/USD) has slipped below the $3,900 level during a low-volatility Wednesday morning session.

The original cryptocurrency had a poor start to yesterday’s session, as its price tumbled to an intraday low of $3,863.56, from its opening level of $3,903.76. However, the coin managed to bounce back and by the end of the morning session it had already reclaimed the $3,900 mark.

The afternoon portion of the session was very different from the early trading, as Bitcoin remained stuck in a tight range above the $3,900 level. Having risen to an intraday high of $3,926.89 in the morning, the digital coin eventually closed the session at $3,909.16.

The Bitcoin price has continued to move sideways in today’s morning session, with the coin unable to secure a more stable position above the $3,900 mark. The coin has seen a slight drop in recent trading and is now fighting to stay above $3,900.

Bitcoin isn’t the only digital coin experiencing difficulties in today’s session. Most digital currencies in the top 10 have seen declined since the start of the day. Even Stellar Lumens (XLM), which has been the best-performing major coin over the past 24 hours – having gained nearly 1% over that period – has seen a slight dip prom its Tuesday close.

Meanwhile, the market activity has remained strong, albeit somewhat subdued compared to yesterday. On Tuesday, the No. 1 digital currency posted daily trading volume of just over $9.8 billion. Recent market data shows that around $9.4 billion worth of BTC have changed hands over the past 24 hours.

In today’s trading, the Bitcoin price stood at $3,896.58, as of 11:09 GMT. The digital coin has lost 0.5% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s total market capitalisation currently stands at $68.5 billion, which represents 51.4% of the combined value of all digital currencies.

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.

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