Bitcoin fails to exceed USD 11,000 again, loses USD 400 in one hour

Friday, September 6 – The price of Bitcoin (BTC) remains around USD 10,400 after the largest cryptocurrency failed its attempt to break the USD 11,000.

Market display Source: Coin360

Bitcoin was on track to reach USD 11,000, reaching an intraday high of USD 10,895 when it lost USD 400 in less than an hour of operations. At the time of publication, the world's most popular cryptocurrency is trading at $ 10,350, which represents a 2.12% decline on the day.

Bitcoin 24-day price chart. Source: Coin360

However, the bullish momentum observed in the seven-day gains of 12% excited analysts, bullish sentiments could be short-lived now that Bitcoin has failed once again to break the USD 11,000 mark.

Cointelegraph previously reported that Filb Filb, a popular Bitcoin trader, had signaled the launch of the Bakkt institutional trading platform later in September as a defining moment for Bitcoin. "Bitcoin continues to consolidate above 10,000 USD," he said, adding:

"Many people expect offers to be filled below $ 9,000; the market rarely gets what it wants and it wouldn't surprise me if they were forced to buy at a higher price. But let's see what happens with the launch of Bakkt." .

The number one altcoin, Ether (ETH), is also plummeting and is currently trading at USD 169 per currency, representing a 2.44% decline on the day.

Ether 24-day price chart Source: Coin360

The Ripple XRP token, which has been operating completely flat for most of the week, is in the middle of a downtrend that shows a loss of about 1.97% on the day. At the close of this edition, the third most popular currency in the world is traded at 0.25 USD.

XRP 24-day price chart. Source: Coin360

The majority among the top 20 currencies record losses

The top 20 worst performing currencies are IOTA (MIOTA) with a decrease of 4.41%, TRON (TRX) with a 5% decline and Algorand (SOMETHING), which is experiencing a huge loss of 17.73% in the 24-hour period at the time of publication.

On September 1, well-known cryptanalyst Josh Rager shot Tron's founder, Justin Sun, and accused him of buying 5,000 to 6,000 Twitter followers a day.

Only three of the 20 major currencies by market capitalization are registering lower earnings at the time of publication, with Bitcoin SV (BSV) showing insignificant gains of 0.22% on the day.

The global capitalization of the crypto market is USD 262,000 million at the time of publication, and the Bitcoin share represents 70.9% of the total.

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