Bitcoin is going through a minor corrective rally today. Bitcoin Price Index (BPI) fell to $9,592.96 at 01:59 UTC – the lowest level for one week.
Let’s remember that the global average price calculated by CoinMarketCap is holding around $200 higher, largely due to the “Kimchi premium” – that is, BTC is changing hands above $11,000 on Korean exchanges Upbit, Bithumb, and Coinone.
Meanwhile, across western exchanges, the world’s largest cryptocurrency by market capitalization is trading closer to $10,000.
The most famous cryptocurrency has depreciated by 1,86% in the last 24 hours.
BTC is stuck inside a falling channel, creating lower lows and lower highs. However, only a daily close above $11,228 (38.2% Fibonacci retracement of the sell-off from the record highs), would signal a revival of the rally from Feb. 6 lows below $6,000.
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