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Bitcoin price rose above $90,000 again on Monday morning, but failed to break through this level and quickly fell back below $88,000, encountering a sharp rejection, a situation that has been repeated for weeks.
Data shows that price has been rejected at this resistance level at least six times since December 16.
Bitcoin prices have traded sideways between $87,000 and $88,000 over the past few days, hitting a weekly high near $90,400 today, but then quickly fell.
According to data from “CoinGecko”, Bitcoin’s market capitalization is approximately $1.75 trillion, while the currency’s market dominance exceeds 57%.
Altcoins moved in the same direction; Ethereum price briefly crossed the $3,000 mark, approaching $3,050, before settling back around $2,930.
The price of Binance Coin BNB fell to $856, while XRP fell below the $1.90 support.
Looking at the daily chart, SOL, ZEC, and DOGE all recorded slight gains, while BCH had the largest decline among the major currencies, and CC rose by about 4% to about $0.125.
The total market capitalization of the digital currency market rapidly fluctuated around US$70 billion within a few hours before stabilizing again around US$3.05 trillion.
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