File photo: A physical Casascius bitcoin, January 15, 2013. Photo: Steve Jurvetson / Wikimedia Commons / CC BY 2.0. Cropped and resized.
Bitcoin was lower Thursday afternoon, trading near $71,500 after falling below the $72,000 and $73,000 levels.
Coinbase data checked at 2:26 p.m. Eastern on November 12 showed a BTC-USD last price of $71,529.11. The exchange reported a rolling 24-hour low of $71,151.01 and a high of $74,737.15.
Compared with Coinbase’s reported rolling 24-hour opening price of $74,336.71, that last price was about 3.78% lower. The comparison covers a rolling 24-hour period, not a move from the U.S. stock market’s previous close. Bitcoin trades around the clock, and prices can differ between exchanges.
The price decline comes as investors also watch demand for bitcoin investment funds. In a separate development, shares outstanding in BlackRock’s iShares Bitcoin Trust ETF fell by 1.88 million between November 10 and November 11, according to issuer figures reviewed by JBizNews.
BlackRock’s fund page, checked again Thursday afternoon, listed 1,399,400,000 shares outstanding as of November 11. The earlier share-count comparison points to net redemptions in IBIT. It is not a dollar-flow total for all U.S. bitcoin ETFs, and it does not by itself explain Thursday’s bitcoin price move.
The bitcoin quote is an afternoon snapshot rather than a closing price. Subsequent trading can move the cryptocurrency above or below those levels.
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