Market Wrap: Bitcoin Drops to $10.2K; Scaling Solution xDai Doubles in Value Locked

The bitcoin market continues to display weakness; xDai total value locked shows interest in Ethereum scaling solutions.

  • Bitcoin (BTC) trading around $10,285 as of 20:00 UTC (4 p.m. EDT). Slipping 1.8% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $10,250-$10,575
  • BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.

Bitcoin trading on Coinbase since September 21.
(TradingView)

Bitcoin’s price had remained in a narrow range since Monday, as the…


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