In brief

  • The price of Bitcoin has fallen by $800.
  • It has failed to keep above the psychological $10,000 mark.
  • The recent price rally is not yet over.

The price of Bitcoin (BTC) has suddenly dropped by $800, falling from $10,200 to $9,400. Since the drop, the price has recovered somewhat, back up to $9,600.

Bitcoin
BTC
+22.35%$103,603.25
24H7D1M1YMAX
Created with Highcharts 10.3.3Apr 18Apr 20Apr 22Apr 24Apr 26Apr 28Apr 30May 2May 4May 6May 8May​10May​12May​14May​16May​18$80000$85000$90000$95000$100000$105000$110000
Price data by
BTC price

This has reverberated across the crypto markets. All bar one of the top ten coins by market cap are in the red, with Bitcoin Cash (BCH) down 8% and EOS down 12%.

As a result, the entire crypto market cap—which was just under $300 billion earlier today—has sunk to $280 billion. Bitcoin's market dominance has dropped too, falling to 63% of the entire crypto market.

Bitcoin at auction. Image: Shutterstock

The US closes big sale of $40 million Bitcoin

The United States Marshals Service (USMS) is closing its auction of 4,041 Bitcoin (currently worth over $40 million) previously forfeited in dozens of various federal criminal, civil and administrative cases. The winning bidders have until 2:00 PM EST today to wire purchase funds to the USMS—or risk being disqualified. For the purpose of this auction, the department has been collecting applications for over two weeks starting February 3, with a minimum bid of $200,000. The stash of confiscated B...

NewsBusiness
2 min read
Liam Frost

The crypto markets have been rallying since the start of the year, with the entire crypto market up 50%. Altcoins have been leading the way, making gains against Bitcoin. In particular, proof-of-stake coins have been performing well.

The price of Bitcoin managed to break through the $10,000 mark several times during this rally but fell back through each time. However, the price still remains in an upwards channel, so the rally is not yet over—for now.

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