Bitcoin drops to fresh day low, breaks below $104.5k level

WEB DESK: Bitcoin slipped into the red just moments after Saturday’s trade began, with its price recorded at $104,801, marking a decline of $82 compared to its previous close of $104,883.70.

The largest cryptocurrency remained in negative territory for some time after the drop, continuing to display volatility. It further slipped to $104,468.20, showing a loss of $415.5 around 01:00 UTC.

BTC remained in the red, failing to surpass its previous closing level for the first three and a half hours of trading.

However, after 03:32 UTC, it began to recover. At $104,522 around 03:16 UTC, Bitcoin started to bounce back, rising to $105,227.30 by 03:58 UTC, showing an increase of 0.67 per cent, or $705.10. This was a gain of $343.6 compared to its previous close.

Despite the recovery, Bitcoin couldn’t hold onto the gains and fell to a new intraday low. The price dropped to $104,452.40 at around 05:12 UTC, a decline of $430 compared to its Friday close.

Meanwhile, Ether (ETH) was trading in the red, down by 0.62 per cent at $3,291.31. Litecoin (LTC) was up by 3.35 per cent, trading at $122.76, while Dogecoin (DOGE) fell by 0.69 per cent to $0.3485.

For those curious about Bitcoin’s price in Pakistani rupee, it stands at Rs29,139,510, or over Rs29 million, as of today.

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