Following several days of trading without much change, the price of bitcoin started to drop on Friday, reaching a low point for the week at approximately $66,600 before bouncing back up by about $1,000.
At the beginning of the business week, bullish momentum took control, propelling the primary cryptocurrency from below $69,000 to a weekly peak surpassing $70,500. However, optimism faded as the potential challenge to the all-time high of $73,800 was overshadowed by a shift in market dynamics, resulting in a decline of over $3,000 by Tuesday.
The days that followed were marked by increased volatility, yet bitcoin remained within a range of $67,000 to $69,000, briefly attempting to break above the latter on Thursday. However, a swift rejection led to a significant downward movement, with the asset dropping to $66,600, its lowest price in approximately a week.
Bulls regained control at this point, preventing further declines and even pushing BTC up by roughly $1,000. Currently, it is trading between $67,500 and $68,000.
Bitcoin’s market capitalisation has dipped to $1.330 trillion, while its dominance over alternative cryptocurrencies remains steady at 50% according to CoinGecko.
