Bitcoin, the number one cryptocurrency by market capitalization, touched the pivotal $60,000 level once again at 5:02 p.m. UTC on the Bitstamp exchange.
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Bulls, however, are struggling to gain footing above the aforementioned price point, with Bitcoin slightly retracing to $59,785.
Earlier this week, the crypto king plunged to as low as $55,567, raising doubts about the longevity of the ongoing bull market.
Alex DovbnyaBitcoin is also down 2% on the monthly chart in spite of hitting a new all-time high of $69,044 11 days ago.
The broader cryptocurrency market remains in the doldrums, with Avalance (AVAX) and Crypto.com Coin (CRO) being the only outliers.
Yuri Molchan
Denys Serhiichuk
Dan Burgin
Vladislav Sopov