Bitcoin Price Correction Continues as $13,800 Becomes Key to Further Gains

Bitcoin was heading back towards $12,000 on June 27 as crypto industry businesses report record activity across the board.

Data from Coin360 showed the bitcoin price coming off its local highs at $13,800 to circle $12,150 as of press time Thursday.

In all its history, bitcoin has never managed a monthly close above that level.

While opinions remain mixed as to how high bitcoin will go before tempering its giant bull run, businesses are celebrating, with all-time high figures continuing to emerge.

The Grayscale Bitcoin Investment Trust additionally passed an implied bitcoin price of $17,000, meaning investors are currently paying around a 40% premium.

Other records came from BitMEX, the bitcoin derivatives giant, which achieved 24-hour volumes of $16 billion across its products.

On cryptocurrency markets themselves, the so-called 'Real 10 Index,' a reading of genuine exchange volumes created by data aggregator Messari, gave 24-hour bitcoin volumes of over $5.5 billion.

As speculation mounts of an altcoin resurgence to match bitcoin, ethereum topped $350 before correcting to $320.Ether 7-day price chart.

Bitcoin's own downturn nonetheless hit markets hard, with many of the top twenty cryptocurrencies by market cap suffering double-figure losses Thursday.

Bottom of the pile were litecoin and bitcoin SV, both of which shed close to 12%..