Bitcoin Slumps to 9-Day Low as Ripple Rebounds from $1 Dip

Bitcoin's price has plummeted to a 9-day low of $63,200 after being rejected at $65,400 earlier this week. The primary cryptocurrency tried to recover but was halted again, leading to a violent correction and its lowest level since last Monday.

Ripple's XRP, which dipped below $1.00 for the first time in nearly two years, has rebounded to $1.02. However, analysts are still split on whether this is a warning of a bigger storm ahead or a hidden accumulation opportunity.

The weak US jobs report on Friday resulted in a relief rally for BTC, but it was short-lived as it slipped to its lowest level since August 3 at $63,800. Since then, it has recovered some ground and now trades below $64,000.