The leading cryptocurrency started its day around $11,400 but went onto a downtrend soon after.

Since opening the day in red, Bitcoin has been on a rampage that has the price falling to as low as $10,738 on Bitstamp.

At the time of writing, the flagship cryptocurrency has been trading at $10,830 with 24 hours loss of 5.19%.

Bitcoin fills out the first CME futures gap, Source: TradingView

As price started to drop, Bitcoin trading volume, though still low at $857.4 million, started rising as well from $480 million, as per Messari.

As we reported, popular analyst Murad Mahmudov called out for $10,800 which he said, 200MA/EMA/RSIbands+Weekly support all have been pointing towards.

$8,400 Coming?

In June, Bitcoin went from around $7,500 to roughly $13,900 in over a fortnight. Having such a quick and sharp move though took BTC to a new 2019 high, left “gaps” in the price charts of CME group’s Bitcoin futures contracts.

These gaps have been a point of concern for a long time that often gets filled in an asset's life, making for a correction.

This is why, analyst The Cryptomist has long been calling out for a bigger drop to $8k and this time as well, she points out, in no uncertain terms, that the remaining two gaps at $11,800 and $8,400 would be filled too.

$Btc

1089 gap almost filled

2 more gaps need to be filled
– 11.8k
– 8.4k

Do not be mistaken, both will be filled. pic.twitter.com/ZtqtZ4WR9C

— The Cryptomist (@TheCryptomist) August 13, 2019

BTC Dominance Drops Below 70%

As Bitcoin falls, altcoins have also turned red.

Top cryptocurrencies are down by 1 to 3 percent, with Monero leading the losses which are down by 6.59% and Cardano, in the red by 4.40%.

Source: Coin360

Total market cap has fallen to $285 billion while BTC dominance is currently sitting at 69.17%, down from 71.50% recorded on August 10 as per TradingView.