The price of Bitcoin (BTC) has fallen by 2.89% to $27,387.89 at 9 am Sydney time.
Bitcoin currently has a market capitalisation of $529.33 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently lower by 3.77%, trading at $1,747.30
Together Bitcoin and Ethereum make up almost 60% of the total cryptocurrency market.
This means that the prices for Bitcoin and Ethereum can indicate the direction of the market more broadly.