The price of Bitcoin (BTC) remained stable on September 17, at around USD 10,200, while another day of still trade continued for the largest cryptocurrency. According to CoinMarketCap, the market capitalization of Bitcoin is USD 183 566 506 534.
Market display Source: Coin360
Bitcoin price slowly erodes support above USD 10K
Coin360 data showed a lateral price action as the agenda for Bitcoin, which remained within the range between USD 10,100 and USD 10,320.
As Cointelegraph reported, a longer period of low volatility saw only a brief interruption on Monday, when BTC / USD suddenly threw around USD 200. A rebound after previous levels slowly faded, which led to the price of USD 10,175, at the close of that edition.
The general change for Bitcoin stood at 1.3% on the day, while the weekly return also remained stable with a depreciation of 0.6%.
Bitcoin seven day price chart. Source: Coin360
The commentators had previously observed the potential of a shake during the week, but this had not yet begun as operators continued to wait for signals.
“Bitcoin continues to face a lot of selling pressure despite a bullish increase on Monday night. The bulls must take over and make sure to defend USD 10K or there would be a greater risk of disadvantage in the short term, ”Cointelegraph's regular collaborator, Filb Filb, said in private comments on Wednesday.
He then suggested that the 20-week moving average (WMA) constituted the psychological barrier that protected Bitcoin from a more intense collapse:
“Prices below 10k, in particular USD 9,800, where the 20 WMA is located, would run the risk of a massive sale. A close above USD 10,500 would be considered bullish and a break from the downside resistance. ”
ETH / USD steals the altcoins show
In altcoins markets, a similar lack of momentum prevailed. As on Tuesday, the exception to the trend was Ether (ETH), which continued its upward movement to approach USD 200.
The largest alternative currency by market capitalization gained 10% in the last 3 days, surpassing the twenty remaining market capitalization currencies.
Ether seven-day price chart. Source: Coin360
At the same time, Tron (TRX) and XRP gained about 2% on Tuesday's trading.
The total capitalization of the cryptocurrency market was USD 265 billion, with Bitcoin representing 69.1% of the total.