Bitcoin Sounds The Retreat As Crypto Markets Head South

Investing, News | March 6, 2018 By:

Caught at the fence!  No, not your favorite baseball slugger – it’s bitcoin’s attempt to climb past the $11,000 level and start a sustained rally. After rising as high as $11,900 on at least one exchange yesterday, the legacy cryptocurrency began a retreat back to safer levels. The pullback has bitcoin sitting around $10,700 at mid-day today, continuing its recent pattern of trading within a narrow range.

The rest of the cryptocurrency market responded with its own red arrows. Litecoin dipped back below the $200 mark, while Ripple’s XRP gave back about half of its nearly 10 percent gains of yesterday.

Bitcoin market highlights for the 24 hours ending March 6, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $11,942.20 on the HitBTC exchange at 3:36 pm yesterday. HitBTC saw $60,330,200 of bitcoin change hands.

The lowest price seen was $10,754.90 on Kraken’s exchange at 12:42 pm today. Kraken’s 24 hour volume was $89,860,100.

The average price on the surveyed exchanges, as weighed by volume, was $11,249.74.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 52.7. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 8 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.