Bitcoin (Bitcoin) Vetoed the major breakthrough of the bulls on November 4th, as the sideways consolidation dragged the market to nearly $60,000.
BTC hodlers in the “buy on dips” mode
Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD is back below 62,000 USD at 8 am UTC time.
The two saw it Hard 24 hours After hitting a local high above $64,000, it eventually rebounded to $60,000 in a short but significant decline.
Civilians continue to pile up.
— Dylan LeClair (@DylanLeClair_) November 4, 2021
Although some believe that price movements are a gift to investors who wish to increase their BTC reserves before rising further, analysts are more concerned with longer time frames.
“So far, the BTC retest has been successful for three consecutive weeks,” Rekt Capital famous About the intensity of the $60,000 mark.
“It unfolded exactly as I expected: BTC completed its rebound to 64k, and the cycle of ETH reached 4600+,” at the same time analyst Crypto Ed, Said Be more cautious about current price movements.
“Now pull back, we have to see if we really go that deep. When correct, BTC reaches ~55k and ETH reaches 37-3800.”
Although the results are unpleasant, the price range of $50,000 has long been on the table-Bitcoin is still able to maintain its Overall bullish trajectory as a result.
Altcoins hit a record high
At the same time, altcoins continue to push the team to record highs, which is strangely contrary to Bitcoin’s mediocre short-term performance.
On Thursday, it was the turn of the ether (Ethereum) Cooling off from a new peak, while Solana (SOL) soared to the top 10 other cryptocurrencies by market capitalization.
Polkadot (DOT) also rebounded after consolidation on Wednesday, hitting $54.55, setting a new record high.
