RATE Group | Bitcoin Continues to Hover Near $7K, Wider Crypto Market Sees Some Mild Corrections
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Bitcoin Continues to Hover Near $7K, Wider Crypto Market Sees Some Mild Corrections

29 Aug Bitcoin Continues to Hover Near $7K, Wider Crypto Market Sees Some Mild Corrections

Posted at 19:58h in Bitcoin News by

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Wednesday, August 29: crypto markets are largely holding fort after yesterday’s strong upswing, as Bitcoin (BTC) continues to trade near the $7,000 price point and many of the top ten cryptocurrencies see negligible price change on the day.

While a number of crypto assets in the top 100 are seeing mild corrections, these are scattered and are not for now correlated as part of a market-wide downtrend, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is trading at around $7,036 at press time, down just half a percent on the day, according to Cointelegraph’s Bitcoin price index.

The top coin yesterday broke through the $7,000 threshold for the first time since August 8, and is trading around $300 higher than just a couple of days ago, August 27. Today’s further consolidation caps a strong upward trend on Bitcoin’s weekly chart.

Bitcoin’s 7-day price chart

Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index

On the week, Bitcoin is now up a solid 5.7 percent,…

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