Bitcoin (BTC) denied the bulls their big break on November 4 when the sideways market pushed the market closer to $ 60,000.
1 hour light chart BTC / USD (bit print). Source: TradingView
Bitcoin Traders in Buy Dive Mode
Cointelegraph Markets Pro and TradingView data showed BTC / USD dipped below $ 62,000 again. 08.00 UTC.
The pair had a tough 24 hours after hitting local peaks above $ 64,000 and eventually recovered to $ 60,000 in a short but significant dip.
While some suggested that the price movement was a boon for investors looking to add BTC balance before further rallies, analysts focused more on longer time frames.
“Bitcoin is being re-tested for three consecutive weeks,” Rekt Capital notes of the strength of the $ 60,000 mark.
“Things are developing exactly as I expected: BTC bounced to 64,000 and ETH reached 4600+,” said analyst Ed Crypto, referring more cautiously to current price action.
“The retreat now must be seen if we really go that deep. That’s right, BTC up to ~ 55K and ETH 37-3800. ”
While it was frustrating in the end, the $ 50,000 series trip has been on the table for a long time – as a result, bitcoin has continued to maintain its overall upward trajectory.
Altcoin Record Highs Continue To Show
Meanwhile, altcoins continued to merge to reach record highs, an odd departure from Bitcoin’s boring short-term performance.
Related: $ 540 Million Ethereum Options Expiring Friday For $ 5,000 Traders
On Thursday, it was Ether (ETH) to cool off from its new peak, while Solana (SOL) rallied higher, surpassing the other top 10 cryptocurrencies in market value.
1-hour candlestick chart (FTX) SOL / USD. Source: TradingView
Polkadot (DOT) also returned after consolidating on Wednesday, hitting $ 54.55 to set a new record.