Bitcoin falls to 2-week low, heads to surrender $10,000 barrier

Bitcoin fell in spot trading today, continuing its drop for the 3rd day, falling to 2-week low, heading to give up the $10,000 barrier again, on weak demand, after the US-China trade war concerns eased.

At Bitstamp, Bitcoin shed $488, or 4.5%, to $10.374 (2-week low), from the opening of $10,862, with a high of $10,862.

Yesterday, Bitcoin fell by 4.6%, its second daily loss, on increased sell-off after Trump's announcement of delaying the tariffs increase decision on Chinese imports.

The total market cap of cryptocurrencies fell on today by about $8 billion to a total of $278 billion, with most of the cryptocurrencies falling.

Trump’s administration decided to delay the decision to impose a 10% tariffs increase on Chinese imports worth $300 billion to mid-December instead of September 1st.

This decision is the US' concession in the trade war with China, which is a positive sign on a near trade deal between the two sides.

During last week, Bitcoin posted a 4-week high of $12,325, on safe-haven demand, after Chinese yuan sharply dropped and the escalation of the trade war.

In addition to the weak demand, the crypto market is facing pressure after regulatory concerns in the US were renewed due to the SEC delayed the launch of 3 Bitcoin ETFs in the market.