Share this article
Bitcoin Price Drops Below $8K to Hit 2-Month Low
As cryptocurrencies across the board once again take a hit, bitcoin is exploring the downside below $8,000.
Updated Sep 14, 2021, 1:54 p.m. Published Feb 5, 2018, 8:02 a.m.
As cryptocurrencies across the board once again take a hit, bitcoin is exploring the downside below $8,000.
The sharp recovery in prices on CoinDesk's Bitcoin Price Index (BPI) from the Friday's low of $7,695 ran into offers at a high of $9,471.46 at 21:59 UTC on Saturday. In the subsequent hours, the bears pushed the cryptocurrency back to $8,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin dropped further to a low of $7,876.69 at 02:30 UTC today and was last seen at $7,995. The world's largest cryptocurrency by market capitalization has depreciated by 12 percent in the last 24 hours, according to data source CoinMarketCap.
A similar price action has been seen across the market. , Ripple (XRP) are down 14 percent each, while ethereum's ether token has dropped 13 percent in the last 24 hours.
The biggest loser in the top 100 cryptos by market cap is the ethereum-based token called dent (in 75th place). The company aims to liberate mobile data by enabling users to sell or donate excess data via the ethereum blockchain.
The price of dent has depreciated by 26 percent in the last 24 hours, according to CoinMarketCap. It is worth noting that dent was leading the cryptomarket recovery over the weekend. As of writing, it is changing hands at $0.023647, having clocked a high of $0.033194 over the weekend.
Currently, the total market capitalization of all currencies taken together stands at $397 billion – up 14 percent from Friday's low of $348 billion.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple, the company that oversees XRP development.
Chalkboard chart image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Meer voor jou
Strategy Bought Nearly $1B in Bitcoin Last Week as Saylor's Company Returns to Big Purchases
Last week's acquisition was mostly funded via the sale of common stock.
Wat u moet weten:
- Strategy purchased 10,624 bitcoin last week for just shy of $1 billion.
- MSTR shares are modestly higher Monday morning alongside a small rise in the price of bitcoin.
Top Stories
