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Bitcoin Drops $100 in One Hour, Slowing Torrid Price Growth
The bitcoin price dropped $100 today in just one hour of trading, a market moved that put a pause on its upward path to $1,600.
By Stan Higgins
Updated Sep 11, 2021, 1:17 p.m. Published May 4, 2017, 8:05 p.m.
The price of bitcoin took a sudden nosedive at 18:40 UTC today, dropping $100 from $1,594 to $1,495 over the course of just an hour of trading.
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At press time, the price of bitcoin had recovered to $1,511 on the CoinDesk Bitcoin Price Index (BPI), which charts the average price of bitcoin across major exchanges.
Still, the decline put a damper on what was the technology's run-up to $1,600, as the price peaked just shy of that milestone. Despite the declines, however, bitcoin was still up 2% at time of writing, less than a day after crossing the $1,500 line.
CoinDesk reported earlier today that bitcoin had climbed above $1,500 for the first time ever, buoyed by bullishness among the world's digital currency traders. Positive sentiment out of Japan in the wake of legislative actions around the tech has also been cited by some.
The move also caps a month of progressive price gains in bitcoin markets, having hovered around an average price of $1,143 on 4th April – signifying a jump of roughly $450 in just over a month.
Balloon image via Shutterstock
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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