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Bitcoin's Price Slips Below $7,000
The price of bitcoin has slid below $7,000 just a day after climbing above the $7,600 level.
By Stan Higgins
Updated Sep 13, 2021, 7:07 a.m. Published Nov 6, 2017, 7:39 p.m.
The price of bitcoin has slid below $7,000 just a day after climbing above the $7,600 level.
The turnaround represents a more than $400 decline amid today's trading, according to data from the CoinDesk Bitcoin Price Index (BPI). As previously reported, prices jumped to an all-new high yesterday before starting to pull back as Monday's trading got underway.
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The tumble below $7,000 began around 18:58 UTC, according to the BPI, with the market slipping as low as $6,948.57.
At press time is trading at around $6,989.64, a decline of roughly 5.6 percent on the day.
Broader market data indicates that the fall in the price of bitcoin stands in contrast with market developments for other cryptocurrencies.
For example, per data from CoinMarketCap.com, the privacy-oriented cryptocurrency monero's price is up more than 13 percent in the last 24 hours. Ethereum, the second-largest cryptocurrency by market capitalization, has risen roughly 2.5 percent during the past day of trading.
Roller coaster image via Shutterstock
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Wat u moet weten:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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