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Bitcoin price (BTC/USD) remains below $6,500 despite early gains

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The Bitcoin price (BTC/USD) remains below the $6,500 even though it has managed to recover from a late Monday slump.

The flagship cryptocurrency had a largely disappointing session yesterday, with its price dropping below the $6,500 level in the early hours of the session. The digital coin revisited this level in the afternoon, but it quickly pulled back again after experiencing a steep decline in late trading. The coin fell to as low as $6,297.3, before finishing the session at $6,308.53, down from its opening level of $6,500.51.

While Bitcoin has managed to rebound in today’s morning session, so far it hasn’t been able to break through the $6,500 barrier. After rising to an intraday high of $6,489.95 earlier, the digital currency has now retreated to slightly lower levels. At the time of writing, the Bitcoin price was hovering around $6,450, according to data from digital currency tracker Coinmarketcap.

The wider cryptocurrency market has also seen an uptick today, although most major digital coins have yet to recover fully from yesterday’s decline. Ethereum (ETH), for example, has lost 2.9% over the most recent 24-hour period, but it is currently trading at around $283, well above its Monday close of $274.32. Other altcoins, including Bitcoin Cash (BCH), EOS, Litecoin (LTC) and Cardano, are experiencing a similar pattern.

As a whole, the cryptocurrency market has seemingly managed to stabilise following its recent lows. Last week, the Bitcoin price slipped below the $6,000, while the crypto market’s total size fell below $200 billion for the first time this year. At the time of writing the total value of all digital coins was about $211 billion.

In today’s trading, the Bitcoin price stood at $6,461.61, as of 11:58 BST. The digital coin has gained 0.3% over the past 24 hours, Coinmarketcap data shows.

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

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