Bitcoin Slips to $65K Amid Stronger Dollar, But Analyst Says the ‘Pullback Is Over’
Bitcoin needs to reclaim the $69,000 level to reignite its uptrend, one trader noted.
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AVAX
Bitcoin needs to reclaim the $69,000 level to reignite its uptrend, one trader noted.
Layer-1 network Avalanche has failed to produce a block for more than an hour, Ava Labs co-founder Kevin Sekniqi said the issue “seems to be related to a new inscription wave.”
Avalanche’s AVAX was one of the few crypto assets that dipped in price over the past week as the token will undergo a $365 million unlocking event scheduled this week.
Traders have increasingly favored these networks over Ethereum for their lower transaction fees and faster speeds.
Overall crypto market capitalization is at its highest level since May 2022 with nearly $400 billion added since the start of October.
Crypto market capitalization rose 2.3% in the past 24 hours.
AVAX is up 8% in the last 24 hours, while bitcoin is trading below $36,500.
The newest viral application launched nearly a week ago and quickly gained a cult following.
Bitcoin edged higher to $27,700 Wednesday afternoon as crypto markets calmed after Monday’s sharp rally. XRP and AVAX jumped 3% and 7%, respectively.