Bitcoin Price Falls to $9.6K Amid Bloody Sunday for XRP, ETH, Altcoins

Bitcoin (BTC) price has fallen further dropping about $300 in less than one hour on Sunday, Feb. 16, though paring some losses since with a bounce from $9,600 to $9,790 at press time.

Crypto market 1-day price chart. Source: Coin360

Bad weekend for Bitcoin price bulls

Most other cryptocurrencies fared much worse, however, as evidenced by Bitcoin’s market dominance rising one percent from yesterday to 63.2%.

The bad weekend for the bulls began on Saturday after losing the $10,000 level. Today, BTC/USD tumbled further and bounced off a key resistance level at around $9,600, which also happens to be the 20-day moving average or 20-MA.

So what’s next for Bitcoin? The $9,850 level need to be reclaimed, according to regular Cointelegraph Markets analyst filbfilb, in order to avoid dropping further to $9.4-$9.5K and $8.8K support areas.

BTC/USD 1-day chart. Source: Tradingview

Worth noting is that the weekend drop has left a so-called Bitcoin futures “gap” at $10,495, the price at which…