Cryptocurrency Markets Sound A Retreat, Give Back Gains Of Last Two Days

Investing, News | April 4, 2018 By:

Bitcoin’s brief rally made a U-turn today, sending the legacy digital currency’s price back under the $7,000 mark. The single-coin price had been surging over the last two days, renewing hopes that a sustained market rally was in the works. Those hopes were dashed overnight, as the gains of the last few days were quickly given back.

The rest of the market reacted predictably, as prices for ether, Litecon, Bitcoin Cash and others retreated six percent of more.  All of the top ten digital currencies had red arrows, as yet another bear run may be in the works.

Bitcoin market highlights for the 24 hours ending April 4, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $7,519.43 on the Binance exchange at 3:42 pm yesterday. Binance saw $299,502,000 of bitcoin change hands.

The lowest price seen was $6,776.26 on Gemini’s exchange at 12:00 pm today. Gemini’s 24 hour volume was $51,434,700.

The average price on the surveyed exchanges, as weighed by volume, was $7,267.52.

Volatility was nearly average, with the BlockTribune Volatility Index coming in at 50.0. 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.