RATE Group | Bitcoin edges lower toward critical $10,000
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Bitcoin edges lower toward critical $10,000

17 Aug Bitcoin edges lower toward critical $10,000

Posted at 18:59h in Cryptocurrency News by

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  • Major cryptocurrencies fluctuate in tight ranges on Saturday.
  • Bitcoin fails to extend rebound, stays above $10,000 for now.
  • Ethereum stays near multi-month lows below $200 handle. 

The heavy selling pressure surrounding all major cryptocurrencies since the start of the week seems to have lost its strength on Saturday but the market doesn’t show any interest in a decisive recovery attempt. Although Bitcoin gained traction on Friday on the back of Bakkt announcing that it will offer futures that will pay out in Bitcoin starting September 23rd, the positive impact of this development faded away relatively quickly. According to the latest available data on coinmarketcap.com, the total market capitalization of all cryptocurrencies fell to $263 billion from $300 billion seen on Monday.

Top-3 coins price overview

After rising to a fresh two-day high of $10,540 on Friday, Bitcoin (BTC/USD) turned south on Saturday and erased a large portion of the recovery gains…

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