The Bitcoin price (BTC/USD) has faced stiff resistance preventing it from advancing above the $6,400 mark.
The original cryptocurrency enjoyed some positive trading over the weekend, bouncing off Friday lows below $6,200. The digital currency came just shy of revisiting the $6,300 level on Saturday, before eventually finishing the session at $6,276.12. After a slow start on Sunday, the virtual coin resumed its advance in the latter morning session, building enough momentum to challenge the $6,400 mark. The coin hit an intraday high of $6,403.46 in the afternoon, but its spell at this level was rather brief, as its price swiftly pulled back to lower levels. Having failed to overcome the stiff resistance around the $6,400 mark, Bitcoin closed the session at $6,359.64.
While Bitcoin has edged higher since the start of today’s trading, the digital currency has been unable to re-test the $6,400 mark. Minutes after the start of the session, the coin rose to $6,486.93, which so far remains its highest level for the day. At the time of writing, the Bitcoin price was hovering around $6,380, according to data from digital currency tracker Coinmarketcap.
Bitcoin’s performance has been consistent with the wider digital currency market, which has enjoyed some positive price action over the weekend. Most coins in the crypto top 10 have posted gains in the past 24 hours, with EOS and Cardano (ADA) being the standout performers, having gained 4.1% and 3.5%, respectively.
In today’s trading, the Bitcoin price stood at $6,380.66, as of 09:38 BST. The digital coin has gained 1.1% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $109.4 billion, which represents 42.7% of the total value of all digital currencies.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.