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20 October 2021
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Market Watch: Bitcoin Price Came Just 4% From a New All-Time High


Bitcoin marked another leg up in today’s session and came just about 4% away from its all-time high. Meanwhile, Binance Coin (BNB) eyes $300 once again.

Bitcoin has managed to hit a high at nearly $56,000 today but has since retraced a bit and it now hovers above $54,000. However, BTC’s dominance suffers as some altcoins, including Binance Coin, have surged in the past 24 hours, and the metric is just slightly above 60%.

Bitcoin’s Stays Above $54K

Ever since the primary cryptocurrency dipped to $47,000 on March 6th, the bulls took control and pushed the asset north. In the following days, BTC firstly reclaimed the coveted $50,000 before heading for a fresh two-week high.

That last part resulted in yesterday’s intraday high at almost $56,000 (on Bitstamp). However, bitcoin failed to breach that level, and the subsequent rejection plummeted its value by $3,000 to $53,000.

Nevertheless, BTC has reclaimed some ground since that low and currently hovers above $54,000.

The technical indicators suggest that the $55,000 is the first significant resistance line in bitcoin’s way up. Should the asset overcome it decisively, the following obstacles are $56,112, $57,685, and the all-time high at $58,355.

 

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