Bitcoin (BTC) Price Drops Slightly as Crypto Market Continues Tight Range Trading

There was a bit of volatility in crypto on Wednesday, but most of the market continued the weeks' trend of trading in a very tight range.

Crypto prices were mixed on Wednesday, but most of the market continued the week's trend of trading in a very tight range.

Shortly after the close of the U.S. stock market, bitcoin was trading at $94,700, down just 0.4% over the past 24 hours. BTC was lower by nearly 2% at one point alongside a sizable early decline in stocks.

Hit harder during the early decline, altcoins also rebounded, but performed worse than bitcoin. The CoinDesk 20 fell 2% in the last 24 hours, with litecoin, ripple, avalanche and chainlink all dropping about 4%.

Crypto equities were performing slightly worse, but bitcoin miner Hut 8 was a notable underperformer, falling 5.7%.

The main U.S. stock averages fell 2% or more early in the session after less than stellar economic news. They recovered throughout the day, with the S&P 500 closing slightly in the green and the Nasdaq dipping just 0.1%.

The continuing string of poor economic data, however, did not appear to deter U.S. President Trump from his tariff policies.

“Somebody said all the shelves will be empty,” Trump said early Wednesday. “Well, maybe the kids will have two dolls instead of 30 dolls, and maybe the two dolls will cost a few bucks more than they usually do. ... They have ships that are fully loaded with things, much of which we don't need.”