(BTC) dropped around 2 percent Friday, August 3, failing to find support to stay above the $7,500 barrier for the first time this week.
Market visualization from
Data from Cointelegraph’s price tracker and show a sudden dip downwards from $7,550 Friday, with BTC/USD trading around $7,363 at press time.
That figure marks bitcoin’s lowest since the end of July, just after prices from $6,100 in a matter of hours.
bitcoin weekly price chart. Source: Cointelegraph
Since that time, markets have rallied and fallen, with commentators if support around $7,000 can hold to sustain July’s gains.
Today’s move downwards accompanies temporary volatility at cryptocurrency exchange , which it had injected 2500 BTC in order to stabilize impending settlements. The crypto exchange added that it will add a new “anti-manipulation policy” on August 4 to avoid such incidents reoccurring at an even larger scale.
bitcoin has traditionally seen in the immediate run-up to futures contract liquidation from various operators.
In altcoin markets, (ETH) managed to curb losses compared to bitcoin, dropping around 1.1 percent in the 24 hours to press time and currently trading around $409.
Ethereum weekly price chart. Source: Cointelegraph
(BCH) fared worse, losing around 5 percent over a 24 hour period and trading around about $713 to press time.
Altcoins (XLM) and (ADA) are also seeing lows among the top ten coins listed on CoinMarketCap, down around 7 and 3 percent respectively on the day and trading for $0.25 and $0.13 by press time.
Total market cap is below $262 billion by press time, a value last seen on July 16.
Total market capitalization weekly chart. Source:
Published at Fri, 03 Aug 2018 13:10:00 +0000
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