Bitcoin is standing strong above the $6k level despite dropping from $6,900 today. Though the short-term price movement for bitcoin doesn’t seem to be positive, the altcoins have registered decent gains making a strong case for themselves while a few prominent ones are standing out from the rest.
Bitcoin standing strong despite dropping from $6,900
Today has been a good day for the Bitcoin and the overall crypto market. Talking about Bitcoin, if you take a look at the chart, it clearly shows what great spike the price registered at just about half an hour. Starting its journey from $6,480, the price took a hike to today’s highest point at $6,899. However, afterward it started making its downward slide, but at a much-controlled pace. At the time of writing, Bitcoin has been exchanging hands at $6,673.
The world’s number one cryptocurrency has been maintaining its stance above the crucial $6,000 level for past one week after dropping just below the $6k mark at $5,882. Before this, it has been at the end of June, that Bitcoin price took a dip below this level.
Though the price is maintaining its hold, the trading volume keeps on suffering as right now it is managing the daily trading volume of $4.1 billion. Meanwhile, the BTC dominance is also seeing action at 53% which is about 1.50% lower than this year’s highest a few days back.
However, experts are not bullish on bitcoin price for now. The current market scenario is expecting the bitcoin to plunge, especially tomorrow being the deadline of Proshare Short Bitcoin ETF.