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Bitcoin's Price is Up Over $50 Already Today
After trials and turbulence last week, the price of bitcoin is up more than 7% today already.
By Stan Higgins
Updated Sep 14, 2021, 1:58 p.m. Published Jan 17, 2017, 2:35 p.m.
The price of bitcoin is up more than 7% today, climbing to just under $900.
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Markets saw an average high of $896, according to the CoinDesk USD Bitcoin Price Index (BPI) after opening the day at $830. At press time, prices were currently averaging $882.10, an increase of just over 6%, BPI data shows.
Notably, CNY-denominated markets have climbed more than 10% today, hitting a high of ¥6,193.35. Prices are currently averaging ¥6,091.78.
The jump followed a day of relative calm, which saw the digital currency’s price fluctuate between $820 and $835 during much of the day’s trading.
BPI data shows that the price increase began shortly after 03:00 UTC this morning, a rise that has sparked curiosity given that it seems to have been driven by China-based exchange activity.
Bitcoin markets have seen a mix of volatile and subdued trading sessions in recent days, spurred significantly by regulatory developments from the region.
Image via Shutterstock
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Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
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