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Bitcoin's Price Slides After Surpassing $1,800
Bitcoin prices slid this morning, a day after crossing the $1,800 mark according to the CoinDesk Bitcoin Price Index (BPI).
By Stan Higgins
Updated Sep 11, 2021, 1:19 p.m. Published May 12, 2017, 1:41 p.m.
Bitcoin prices slid this morning, a day after crossing the $1,800 mark according to the CoinDesk Bitcoin Price Index (BPI).
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Markets slid to an average low of $1,717.42, BPI data shows, after opening at $1,807.37. The market taper comes after a blockbuster week for the digital currency's price.
The past few days have seen bitcoin shoot past $1,700 and then $1,800. Only a month ago, prices hovered around $1,200, according to data from the BPI.
At press time, the average price of bitcoin is roughly $1,754, representing a dip of about 2.9% from the opening but also a partial recovery from the day's low.
Other cryptocurrency markets have seen dips in the past day, including litecoin, which is down about 5% in the past 24-hours, according to data from CoinMarketCap.
Roller coaster image via Shutterstock
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Crypto Markets Today: Bitcoin Rises, but Risk Appetite Remains Weak
Crypto prices are little changed, with bitcoin steady after dropping back from last week’s post-Fed high while altcoins continue to underperform amid risk-off sentiment.
What to know:
- BTC rebounded from Sunday’s $88,000 low to around $89,900, though it remains well below the $94,300 it hit after the Fed’s 25 basis-point rate cut.
- More than half of the top 100 tokens are lower over 24 hours, with the CoinDesk 20 up just 0.16% and the broader CD80 down 0.77%, underscoring altcoins' continuing underperformance.
- Sentiment has slipped back into “extreme fear,” altcoin season indicators remain depressed, and bitcoin dominance continues to climb, reflecting investor preference for larger-cap assets.
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