Investing.com – Bitcoin battled to stay above the all-important $10,000 level as traders appeared to cut their bullish bets on the popular digital currency with nearly $100 billion wiped off cryptomarkets in just under two days.
Fund outflows continued to pour out of the cryptomarket for the second straight day as the total cryptocurrency market cap fell to about $436 billion, at the time of writing, down 15% from about roughly $510 billion Tuesday.
Some cited technical resistance – trading levels that trigger selling – as a reason for the selloff after bitcoin rose to nearly $12,000 Wednesday on the bitfinex exchange. Bitcoin fell to low of $9,470 Thursday before rebounding, and remains well above the $6,000 low seen Feb. 6.
Bitcoin fell 2.59% to $10,080, while Litecoin fell 6.65% to $196.87 as it continued to give back recent gains which followed a split or “hard fork,” creating rival Litecoin Cash.
Ethereum fell 0.48% to $815.29, Ripple’s XRP fell 5.26% and Bitcoin Cash fell 6.26% to $1,208.
The fall in XRP comes despite Coindesk reporting Wednesday that the Ripple added five new payment clients in four countries.