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Bitcoin broke all-time highs this week, surpassing the Swiss Franc to become the 13th largest currency. But its burst of good fortune that took it just short of $74k was retraced, ending the week down slightly. What stood out about this week’s price action, and should you be buying the dip?
While Bitcoin expeditiously rejected off new all-time highs both times they were set last week, Monday marked the first time this cycle that BTC had been able to trade higher after cracking all-time highs, a feat that has not been achieved since November 2021!
BTC retested last cycle’s all-time high twice during the week, first on Tuesday and then again on Thursday, before breaking below a key level on Thursday night and resting below $70k for most of Friday through the time this piece was published.
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