Bitcoin price (BTC/USD) remains below $10,000 despite solid gains on Wednesday morning

Bitcoin price (BTC/USD) remains below $10,000 despite solid gains on Wednesday morning

Bitcoin price (BTC/USD) remains below $10,000 despite solid gains on Wednesday morning

The Bitcoin price (BTC/USD) has managed to pick up in the past 24 hours, but still remains below the psychological level of $10,000.

The original cryptocurrency enjoyed some positive price action on Tuesday, as its managed to clinch its first close above $9,600 in four days. After spending the morning part of the session hovering around the $9,500 mark, the digital coin saw some solid gains in the afternoon, with its price rising to as high as $9,701.76. BTC pulled back in the final hours of the session, finishing the day at $9,607.42, up from its opening price of $9,522.33.

The coin has continued to move on a mostly upward trajectory since the start of today’s trading. At the time of writing, the Bitcoin price was hovering around the $9,770 mark, which was its highest level in four days.

BTC has also seen an improvement in market activity, even though its daily trading volume remains low compared to its 30-day average, which is well above $20 billion. According to data from digital currency tracker Coinmarketcap, around $14.7 billion worth of BTC coins have changed hands over the past 24 hours, which is well above the $13.8 billion generated on Tuesday.

In technical analysis published on Tuesday, industry website Coindesk noted that short duration charts signalled seller exhaustion. The online publication suggested that the coin might be able to retake the $10,000 mark “in the next 24 hours or so” and pointed to a technical indicator signalling a possible long term bull run.

In today’s trading, the Bitcoin price stood at $9,773.20, as of 12:08 BST. The digital currency has gained 2.6% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at $174.4 billion, which represents 64.6% of the combined value of all digital currencies.

Featured image: chanchai howharn /

More Resources

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.