Bitcoin Rejected at $67K, Strategy Stays on Hold, BitMEX Shuts Down: Weekly Crypto Recap

The previous business week ended with a leg down that drove the primary cryptocurrency to $62,500. However, it reacted swiftly and recovered to $64,000 during the weekend.

The gradual climb continued on Sunday and Monday morning when BTC peaked at $65,000, but it was rejected and slipped south by over a grand to $63,750. The next leg up was a lot more impressive. Bitcoin didn’t stop at $65,000, and even the $66,000 resistance fell on the first attempt. Thus, the asset’s rally extended for a bit more, reaching $67,000 (on some exchanges) for the first time since the middle of June.

It came on the heels of renewed ETF net inflows and new accumulations from certain large investors. However, the price run couldn’t be sustained for long, and BTC quickly dipped back down to $66,000 on Wednesday, $65,000 on Thursday, and it plunged to $64,000 earlier today.

Despite its $3,000 correction from the local top, bitcoin remains about 2% up on the week. Similar gains are evident from Ethereum, which challenged $1,950 at one point, and TRX, which remains at around $0.33. Even more impressive price performance comes from XMR; a 9% pump has driven the privacy token to over $350. UNI and HBAR have posted notable gains as well, while HYPE, ZEC, CC, and DOGE remain in the red on a weekly scale.

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