Bitcoin prices entered rangebound trading today after soaring to their highest level in over a month.
Following this ascent, bitcoin prices pulled back somewhat, falling slightly lower to $1,046.24 by 15:30 UTC, a less than 1% decline from the daily high, BPI data shows. The digital currency’s price began to rise once again over the next few hours, increasing by 0.3% to $1,049.83 by 17:45 UTC.
These modest fluctuations continued over the next several hours, with bitcoin prices dropping 0.2% to $1,047.46 at 19:30 UTC and then appreciating 0.3% to $1,050.67 by 21:00 UTC.
At press time, the average price of bitcoin is $1,051.75, according to the BPI.
The relative lack of volatility that bitcoin prices saw during the latter part of today’s session may be the latest sign that the digital currency is experiencing a new trend of more modest price fluctuations.
Image via Shutterstock