Institutions: Bitcoin seems to struggle to maintain upward momentum
On 10 December, Bitcoin reportedly rose slightly intraday, but trading below the key $100,000 level it recently breached, it appears to be struggling to sustain its upward momentum. Last Thursday, Bitcoin reached an all-time high of $103,000 after US President-elect Donald Trump nominated pro-cryptocurrency Paul Atkins to be the chairman of the SEC. trade Nation analyst David Morrison said in a report, ‘Yesterday, Bitcoin once again briefly breached the $100,000 mark, but shortly after the U.S. stock market opened, bitcoin tumbled as the stock market sold off.’
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