Bitcoin Caught At The $10K Fence, Falls Back In Monday Retreat

Investing, News | May 7, 2018 By:

Bitcoin came tantalizingly close to breaching the $10,000 single coin level over the weekend. But much as Monday morning brings a weary resignation to working stiffs, so, too, did the start of the business work week drag down BTC.

At mid-morning, bitcoin stood at the $9,300 level, down over the last 24 hours. It was yet another pullback after a strong run, continuing the pattern of surge and retreat that has marked its progress for the last month.

The rest of the top ten coins also suffered a down day, albeit at higher prices than last week. Bitcoin Cash is now over the $1,600 single coin mark, while Litecoin is in the $163 range, both relative highs compared to the last month’s averages.

Bitcoin market highlights for the 24 hours ending May 7, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $9,673.70 on the Bitfinex exchange at 8:24 pm yesterday. Bitfinex saw $233,448,000 of bitcoin change hands.

The lowest price seen was $9,179.99 on GDAX’s exchange at 10:06 am today. GDAX’s 24 hour volume was $82,943,900.

The average price on the surveyed exchanges, as weighed by volume, was $9,399.84.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 52.2. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 7 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.