The bitcoin price broke out of its early-week slump on Thursday, scrambling back above $6,700 to return to its weekend levels.
Bitcoin hadA�entered the week near $6,700A�after briefly extending as high as $6,815 last Friday. However, the flagship cryptocurrency took a moderate dip on Monday, a correction that ultimately forced BTC below $6,400 on Tuesday ahead of a recovery back to $6,500 on Wednesday.
Thata��s where BTC/USD continued to trade for most of Thursday morning and afternoon, at least until 19:48 UTC when a surge in volume carried the bitcoin price from $6,549 to $6,690 in less than four minutes. At 20:02 UTC, bitcoin broke past $6,700 for the first time since Sunday and popped as high as $6,745 one minute later. As of the time of writing at 21:09 UTC, BTC/USD was trading just above the $6,700 level at $6,702 on Bitfinex.
Several traders have noted on social media that tomorrow, Sept. 28, is the date that quarterly futures expire onA�OKEx,A�BitMEX, andA�CME, events that tend to be accompanied by increased price volatility in the spot markets.