Bitcoin Price Decline Continues As Markets Drop Below $6,500

The price of bitcoin is down more than 8 percent today, continuing losses that began after the cryptocurrency slipped below the $7,000 level.

Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900.

Earlier in the day's trading, the price had climbed as high as $7,330.06, with today's low marking a more than $600 decline since that level.

At press time, bitcoin is trading at $6,567.86.

Roller coaster image via Shutterstock

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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Bitcoin Price Decline Continues As Markets Drop Below $6,500

The price of bitcoin is down more than 9 percent after falling below the $6,500 level.

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