Bitcoin’s Four-Week Winning Streak Faces Test as Demand Softens
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Bitcoin posted a modest 1% weekly gain, its fourth consecutive weekly advance for the first time since April, but momentum faded after a sharp midweek reversal. The token peaked at $67,000 on Tuesday then fell 5% as short-term holders sold near breakeven, reinforcing resistance and underscoring buyers' struggle to break the current trading range in the crypto market.
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Bitcoin extended its positive run last week with a minor 1% weekly gain, marking its fourth straight weekly advance for the first time since April. Even so, the rally showed signs of losing momentum after a sharp midweek reversal weakened buying pressure.
The cryptocurrency climbed to a weekly high of $67,000 on Tuesday before dropping 5% as short-term holders sold near their breakeven level. The decline reinforced resistance overhead and showed that buyers are still struggling to push Bitcoin beyond its recent trading range.
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$ 79.30K
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In This News
Coins
$ 79.30K
-1.01%$ 0.00166
Predictions Markets
See what traders are focused on
Share:
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