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.
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.

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...
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.