Crypto Markets Retreating From Lofty Weekend Valuations

Investing, News | September 25, 2018 By:

The optimism of the weekend has given way to the pessimism of the work week, as the cryptocurrency markets took an abrupt turn downward over the last 24 hours.

At mid-morning, bitcoin was down to $6,400, a sharp turn south from its weekend $6,900 peak, on moderate trading volume. Similar deflation was occuring with the rest of the coin markets, as ether and XRP are suddenly coming back to earth after a sustained run.

Overall, the top ten coins were down this morning anywhere from seven to ten percent.

Bitcoin market highlights for the 24 hours ending September 25, 2018 at 1:00 pm US Eastern Time

The highest price seen was $6,780.80 on the Cryptonex exchange at 2:55 pm yesterday. Cryptonex saw $19,162,044 of bitcoin change hands.

The lowest price seen was $6,207.35 on Cryptonex’s exchange at 3:55 am today. Cryptonex’s 24 hour volume was $19,162,044.

The average price on the surveyed exchanges, as weighed by volume, was $6,493.98.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 56.2. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 22 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.