Digital currencies were under pressure Wednesday, led by the so-called altcoins which were showing double-digit losses.

The price of the No. 1 digital currency, bitcoin BTCUSD, +0.02% had made a seven-week high late Thursday, trading to $9,746.82 before following the altcoins lower this morning. A single bitcoin last changed hands at $9,052, down 6.2%, according to CoinDesk.com.

Read:Is the altcoin rally bringing cryptos out of the 2018 bear market?

Despite the retreat, bitcoin has notched gains in six of the last seven days, a streak not matched since mid-February, which should keep the cheer intact for now.

“The crypto market is currently engulfed by a feeling of optimism. Its participants suggest that the worst has passed and that the decrease in trading volumes has cooled the regulators’ interest in the market,” wrote FxPro analysts in emailed comments.

“It’s also worth noting that the difficulty in mining new coins is growing, so any positive news is likely to provoke price hikes.”

Read:‘OK, I’ll say it: bitcoin is a scam,’ says the former CEO of PayPal and Intuit

What are altcoins and futures doing?

As stated, it’s a bloodbath for altcoins. Ether ETHUSD, -0.98% lost 10.3% to $634.52, Bitcoin Cash BCHUSD, -0.32% has given up 6.% to $1,328.49, Litecoin LTCUSD, +1.92% is down 11% at $147.90 and XRP coin XRPUSD, +0.73% , the currency on the Ripple network slipped 12% to 82 cents.

After a record setting start to April, led by Bitcoin Cash, which doubled in price, the Wednesday’s selloff will test the mettle of crypto bulls.

Meanwhile, Bitcoin futures ended slightly lower Wednesday. The Cboe’s May contract US:XBTK8 fell $390, or 4.1%, to end at $9,070 and the CME Group Inc. April contract US:BTCJ8 gave up 5.1%, or $485, to finish at $8,970.

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