Bitcoin, the No. 1 cryptocurrency, showed little change Wednesday, pausing after the prior day’s price drop that dragged it below $10,000.
Bitcoin BTCUSD, +0.85% was changing hands at $9,998.07, fractionally lower than where it was late Tuesday. The virtual currency is down 29% in January, its worst monthly percentage drop in three years, having ended 2017 around the $14,000 mark.
Some chart-watching analysts noted that bitcoin has dropped under a trend line that had been providing support in January, meaning buyers had been stepping in at that level. The trend line is shown in red in the chart below from Wednesday’s Daily Shot newsletter.