As of 7:50 p.m., the Bitcoin price stands at $28,250.04, reflecting a decrease of -1.91% over the past 24 hours. The recent volatility has left the token’s market capitalization at $546,663,557,574.86, with a yearly change of 70.97%.
Bitcoin experienced a two-day slump, dropping below $28,000 at one point on Thursday. The cryptocurrency was recently trading at around $28,325, showing a decrease of 2.7% over the past 24 hours, according to CoinDesk market data. However, the BTC/USD trading pair on the Coinbase exchange went as low as $27,991 before rebounding later, as per TradingView data.
According to Edward Moya, Oanda’s senior market analyst for foreign exchange, Brian Armstrong’s indication of Coinbase’s possible departure from the U.S. might have contributed to bitcoin’s recent decline.