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Bitcoin Falls Below $800 As Volatile Week Continues
Bitcoin prices tumbled more than 10% in morning trading, dipping below the $800 mark.
By Stan Higgins
Updated Sep 14, 2021, 1:58 p.m. Published Jan 11, 2017, 1:29 p.m. 1 min read
Bitcoin prices tumbled more than 10% during morning trading, dipping below the $800 mark.
Markets saw an average low of $779.54, according to the CoinDesk Bitcoin Price Index (BPI), the first time the price has been reported below $800 since 21st December. The drop came after the price traded just above $900 during overnight activity, and represents a nearly 39% fall from the 2017 peak of around $1,153.
2017 has been a volatile year thus far for the digital currency’s price. The start of the week saw the price shift above and below $900 as concerns over rumors of new regulations coming out of China circulated on social media, though market observers appear to be split on what the long-term impact may be.
The price is currently trading at around $804, BPI data shows.
CNY-denominated markets are down more than 9% at press time, averaging ¥5,405.69, according to the BPI, after falling to a low of ¥5,194.32.
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Oil’s 5% drop on potential Strait of Hormuz reopening boosted Asian equities and supported crypto sentiment.
Що варто знати:
- Bitcoin trades near $77.2K, holding above its 50-day average, while ETH, XRP, and SOL lag below theirs.
- Oil’s 5% drop on potential Strait of Hormuz reopening boosted Asian equities and supported crypto sentiment.
- Caution persists as ETF outflows exceed $2 billion in two weeks.
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