Bitcoin Price Breaks Sleepy Spell to Jump Above $950

Bitcoin prices are up more than 3% since the start of the day’s trading, climbing above $950 for the first time in weeks.

AccessTimeIconJan 31, 2017 at 3:10 p.m. UTC
Updated Sep 14, 2021 at 1:58 p.m. UTC
btc
btc

Bitcoin prices are up more than 3% since the start of the day’s trading, climbing above $950 for the first time in weeks.

The average price hit a high of $959.37 from an open of $920.24, according to the CoinDesk Bitcoin Price Index (BPI). BPI data shows that the price of bitcoin hasn’t exceed $950 since 6th January.

The rise above $950 came after several days of relatively stable trading, in which the price of bitcoin ranged between roughly $910 and $922, according to trading data.

At press time, the average price of bitcoin is $956.32.

CNY-denominated markets have climbed nearly 11%, hitting a press time high of ¥6,629.34. The current price of ¥6,608.70 represents a rise of roughly 10.7% above today’s UTC open of ¥5,961.77.

The move comes amid a shift in the global exchange landscape, which has seen its lines redrawn after major bourses in China moved to add trading fees.

As a result, volume has shifted – at least for now – toward no-fee markets. Observers, however, argue that this trend will be short-lived as those exchanges look to add fees of their own.

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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