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Crypto Dream

06/08 19:25

BTC Stopped at $106.5K

BTC Stopped at $106.5K

The primary cryptocurrency tried to take down the $110,000 level on a couple of occasions last week and perhaps head toward yet another all-time high, but each attempt was halted in its tracks. The most violent rejection came on Thursday and Friday, especially after US President Trump said China had violated the trade agreement between the two economic giants.

The consequences for BTC were immediate as the asset plummeted from a Thursday peak of $109,000 to $103,100 by Saturday morning, which became a 12-day low. The bulls managed to defend that level and even helped bitcoin recover some ground to $104,500 during the weekend.

Monday began with more volatility as BTC went up to $106,000 before it was pushed south to under $104,000. The asset jumped even further on Tuesday morning, touching $106,500 for the first time since Thursday, but it was stopped again and now trades inches above $105,000.

Its market cap sits at $2.090 trillion, while its dominance over the alts has taken a hit and is down by 0.5% daily to 61% on CG.
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