Bitcoin’s inability to break past $20,000 has pushed it back to a familiar ground of around $19,000.
Last week was quite uneventful for the primary cryptocurrency as the most significant volatile trading day came on Friday night when the asset plummeted toward $18,600. After charting that multi-day low, the bulls stepped up and pushed it north.
As such, the weekend resembled the previous one – meaning, the trading volumes were quite low, and bitcoin stood mostly around $19,000.
Monday appeared to be different as BTC surged to $19,700 for the first time in days. While the community was hoping for another leg up that would take it to $20,000, the landscape changed, and bitcoin returned down to $19,000.
Currently, the asset still trades a few hundred dollars above that line. Its market cap is still at $370 billion, but the overall fear in the markets has taken another hit for the worse and is down to 20 – meaning, deep in the extreme fear territory.