Bitcoin Drops to USD 10.5K, Ether, XRP Remain Steady, BCH Rallies

Bitcoin once again saw losses this week after having sold off on both Monday and Tuesday, as traders rushed to take profits after the rally seen earlier this month.

At pixel time (05:20 UTC), bitcoin (BTC) trades at c. USD 10,576 and is down by 7% in the past 24 hours and by 9% in the past week. It’s still up by almost 4% in the past month.

Bitcoin price chart:

BTC is the second biggest loser among the top 20 cryptocurrencies by market capitalization, following Tezos (XTZ), which saw losses of slightly more than 7% over the past 24 hours.

Following the weakness in the bitcoin price, the bitcoin dominance, or the percentage of the total market capitalization, also declined from 68.5% on Monday to 67.5% today.

The whole market capitalization is down by 5%, to USD 282 billion.

In contrast to the all the selling seen in bitcoin, however, major altcoins remained relatively stable over the past 24 hours. Among them were both ether (ETH), ripple (XRP), and litecoin (LTC), which were more or less unchanged over the past 24 hours.

Meanwhile, Bitcoin Cash (BCH) and Bitcoin SV (BSV) are both among the biggest gainers Wednesday morning, with gains of 6.2% and 4.8%.

Other notable gainers include ethereum classic (ETC), which saw a 4% surge.

Among the top 100 coins by market capitalization, bitcoin gold (BTG) and educare (EKT) increased the most (12% and 8% respectively), while the biggest losers are platincoin (PLC) (-19%) and bytecoin (BCN) (-17%).