Bitcoin Sell-off Continues, Price Drops Below USD 10,000

The most popular cryptocurrency, bitcoin, just declined below the psychologically important level of USD 10,000, where it was more than 10 days ago.

At pixel time (05:44 UTC), bitcoin trades at c. 9,880 and is down by more than 11% in the past 24 hours and by 13% in the past week. In June, bitcoin was the best performing coin among the top 10 coins.

Bitcoin is registering the biggest decline today as other major tokens from the top 10 are registering 3%-7% decline, while only binance coin is in green (+2.3%).

The total market capitalization dropped by more than 9%, to USD 292 billion, while bitcoin dominance, or the percentage of the total market capitalization, dipped below 60% for the first time since June 25.

As reported yesterday, the crypto market sentiment worsened in the past week as prices continue to decline.

Meanwhile, some market players say that the recent decline is healthy for bitcoin as its parabolic growth even prompted analysts to warn investors.