Bitcoin Consolidation Continues, Avalanche Touched $100, Breaking New ATH (Market Watch)
Following the past few days of enhanced volatility, bitcoin has calmed around $64,000. Most alternative coins have also remained untypically stagnant on a 24-hour scale, with the apparent exception of Avalanche, which went on a roll and registered a new ATH.
Bitcoin’s Consolidation Rolls On
Last week was going quite well for the primary cryptocurrency as it had recovered from its dip to $60,000 and went on to chart new records. It broke the October peak of $67,000 on Tuesday and did it once more a day later, with the latest ATH standing at $69,000.
However, it couldn’t continue north. Just the opposite, it slumped by $6,000 in a day and dropped below $63,000.
The asset bounced off initially and reclaimed $65,000 before another price decline drove it to a weekly low of just over $62,000, as reported yesterday.
Since then, BTC has recovered some ground and touched $65,000 a few hours ago. However, it failed to remain there, and another multi-hundred dollar retracement has driven it to just over $64,000.
Following the past few days of enhanced volatility, bitcoin has calmed around $64,000. Most alternative coins have also remained untypically stagnant on a 24-hour scale, with the apparent exception of Avalanche, which went on a roll and registered a new ATH.
Bitcoin’s Consolidation Rolls On
Last week was going quite well for the primary cryptocurrency as it had recovered from its dip to $60,000 and went on to chart new records. It broke the October peak of $67,000 on Tuesday and did it once more a day later, with the latest ATH standing at $69,000.
However, it couldn’t continue north. Just the opposite, it slumped by $6,000 in a day and dropped below $63,000.
The asset bounced off initially and reclaimed $65,000 before another price decline drove it to a weekly low of just over $62,000, as reported yesterday.
Since then, BTC has recovered some ground and touched $65,000 a few hours ago. However, it failed to remain there, and another multi-hundred dollar retracement has driven it to just over $64,000.