It was just two weeks ago, on Bitcoin Pizza Day, when the primary cryptocurrency skyrocketed to a fresh all-time high of almost $112,000. However, it failed to maintain its run and started to retrace almost immediately.
At first, it remained around $110,000 but was stopped and driven south last week. The most violent rejection arrived at the end of the business week when the bears pushed bitcoin down by several grand. The culmination took place on Saturday when BTC slumped to a 12-day low of $103,100.
The cs-are-overheating-while-bitcoin-remains-bullish-cryptoquant/finally stepped up at this point and didn’t allow a potential breakdown toward five-digit territory. Bitcoin started to recover and aimed at $106,000 on a few occasions since then. However, each attempt was stopped in its tracks, and BTC now sits below $105,000 after the more recent rejection.
Its market capitalization has dropped to $2.080 trillion on CG, while its dominance over the alts has recovered to 61%.
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