The Bitcoin price (BTC/USD) has returned above $4,000 thanks to a price jump that occurred in today’s early trading.
After seeing a sudden drop in yesterday’s early session, the original cryptocurrency spent the following few hours trying to defend the $4,000. While the digital coin had some success during the morning and the early afternoon trading, it never managed to recover from the early drop, which left it in a vulnerable position. Eventually, the coin suffered another sharp decline, which sent its price down to a five-day low of $3,840.45. The coin finished the session at $3,894.13, well below its opening price of $4,147.32.
After hovering around the level of yesterday’s close during the first hours of today’s session, Bitcoin saw an uptick that allowed it to reclaim the $4,000 mark. The coin rose to an intraday high of $4,020.29, before pulling back to slightly lower levels. At the time of writing, the Bitcoin price was hovering around $4,010, according to data from digital currency tracker Coinmarketcap.
The broader digital currency market has also seen a small rebound, although it has yet to fully recover its most recent losses. Most major digital coins, including Ripple (XRP), Ethereum (ETH), Stellar Lumens (XLM) and Bitcoin Cash (BCH), have seen moderate losses over the past 24 hours, although they have managed to mitigate the damage. The total value of all digital coins currently stands at $129.6 billion, up from the $123.8 billion it hit earlier today.
In today’s trading, the Bitcoin price stood at $4,010.27, as of 09:50 GMT. The digital coin has lost 0.4% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $69.8 billion.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.