Share this article
Bitcoin Price Dips to Two-Month Low Below $7K
The price of bitcoin is now trading at its lowest total since April, hours after dropping roughly $500 according to the CoinDesk Bitcoin Price Index.
Updated Sep 13, 2021, 8:02 a.m. Published Jun 11, 2018, 1:50 a.m.
The price of bitcoin dropped $500 in a single hour Sunday to hit a two-month low below $6,700.
According to CoinDesk's Bitcoin Price Index, the world's largest cryptocurrency by market capitalization is now changing hands at $6,718, up slightly after reaching a daily low of $6,647, its lowest total since April 10.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Indeed, data shows that over the last 24-hours bitcoin failed to find solid support in the $7,470 zone, before plummeting 11 percent to $6,647.
For traders, this means bitcoin's two-month uptrend appears to be in question. Trading at around $6,700, bitcoin is now within striking distance of its 2018 low of $5,947 set in February.
With the bitcoin price declining, so too has the market for all cryptocurrencies, with now stands at $295 billion, down from $340 billion yesterday. The figure also marked a two-month low for the broader market.
Nearly all cryptocurrencies listed show a 10-20 percent decline in price over the last 24-hours.
Bitcoin and US dollars via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
Top Stories
