Bitcoin Trump-Dumps to $10,500; MetaMask Hits 1 Million Users

The DeFi ecosystem's most popular wallet hit 1 million users.

Bitcoin trading around $10,555 as of 20:00 UTC. Slipping 1.6% over the previous 24 hours.

Bitcoin's price was able to climb to $10,800 on spot exchanges such as Coinbase Tuesday before falling to as low as $10,528 immediately after President Trump tweeted his rejection of opposition lawmakers' most recent economic stimulus proposal.

Katie Stockton, an analyst at Fairlead Strategies, says bitcoin has been above the key $10,000 price point for some time, which she considers bullish.

"Bitcoin has been consolidating within its uptrend since discovering support near $10,000 a month ago," Stockton said.

The last time bitcoin traded below $10,000 was on Sept. 9.Daniel Koehler, liquidity manager at cryptocurrency exchange OKCoin, says the aftermath of the BitMEX news still has him optimistic.

"It's bullish to see that bitcoin trading infrastructure is so strong given that the former largest bitcoin derivatives trading platform can lose 25% of [its] BTC open interest deposits overnight and the markets just shrug it off." Koehler also noted that open interest in the bitcoin futures market overall is ticking up, hitting $3.8 billion on Monday.

One of the reasons for resilience may be bitcoin's potential store-of-value properties, says Henrik Kugelberg, an over-the-counter trader based in Sweden, who is bullish bitcoin but bearish almost everything else.

"To me it seems like a point where turning to bitcoin is a good idea."

Ether, the second-largest cryptocurrency by market capitalization, was down Tuesday, trading around $341 and slipping 3% in 24 hours as of 20:00 UTC.The MetaMask wallet, a browser extension that allows users to interact with the Ethereum network and its multitude of smart contract-based decentralized finance, or DeFi, applications, has hit 1 million users.