The Bitcoin price (BTC/USD) has seen some fluctuations following its big plunge on Wednesday morning.
The original cryptocurrency had a rough session yesterday, even though it enjoyed some positive price action in early trading. The digital coin hit an over-five-month high of $5,642.04 in the opening hours of the session. Soon after that BTC experienced a sharp pull-back that sent its price back to below the $5,500 mark. The coin spent the entire afternoon portion of the session trading at sub-$5,500 levels, falling to as low as $5,418.26 in late trading. Bitcoin eventually closed the session at $5,464.87, well below its opening price of $5,571.51.
Today, Bitcoin made an early attempt to reclaim the $5,500 level, rising to as high as $5,487.15. However, its momentum has since been hindered by price fluctuations, which have seen the coin swinging between gains and losses during the morning session. At the time of writing, the Bitcoin price was hovering around the $5,480 mark, according to data from digital currency tracker Coinmarketcap. Meanwhile, Bitcoin’s 24-hour trading volume currently stands at $14.8 billion, which is significantly lower than the $17 billion that were generated on Wednesday.
Bitcoin has demonstrated more than its altcoin counterparts, many of which saw much steeper declines yesterday. As a result, the so called Bitcoin dominance, the indicator that tracks the original cryptocurrency’s share of the overall crypto market cap, has risen to 54.5%.
In today’s trading, the Bitcoin price stood at $5,479.31, as of 11:50 BST. The digital coin has been little-changed over the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $96.8 billion.