RATE Group | Bitcoin Loses $7K Footing Amid Market-Wide Price Correction
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Bitcoin Loses $7K Footing Amid Market-Wide Price Correction

30 Aug Bitcoin Loses $7K Footing Amid Market-Wide Price Correction

Posted at 23:26h in Bitcoin News by

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Thursday, August 30: following the week’s brief uptick, crypto markets are today seeing widespread corrections, with the top ten coins by market cap losing between 1.5 and 5 percent on the day. All but 13 minor alts among the top 100 ranked cryptos are in the red, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is trading at around $6,942 at press time, down1.52 percent on the day, according to Cointelegraph’s Bitcoin price index.

Having broken through the much-fêted $7,000 threshold earlier this week, the top coin has seen a slump set in as of yesterday, August 29.

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

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

On the week, Bitcoin remains up a solid 6 percent, while monthly losses are around 15 percent.

Ethereum (ETH) is trading around $284 at press time, over 3 percent on the day and virtually reversing the gains claimed over the past couple of days. The altcoin is now back within the trading range it held between August 20 and…

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