At
press
time,
the
world’s
largest
crypto
was
trading
at
$73,000,
up
4.6%
over
the
past
24
hours,
roughly
in
line
with
the
performance
of
the
broader
CoinDesk
20
Index.
Bitcoin
has
been
in
a
consolidation
phase
for
multiple
grueling
months
since
its
March
14
peak
,
dropping
to
as
low
as
just
under
$50,000
at
one
point
over
the
summer,
but
mainly
sitting
in
roughly
the
$60,000-$65,000
range.
The
action
tested
investors’
patience
and
left
many
concerned
that
the
bull
market
cycle
begun
in
early
2023
had
already
topped
out.
Multiple
attempts
for
new
highs
were
met
with
heavy
selling
from
bitcoin
miners
and
long-term
investors,
while
breakdowns
were
quickly
arrested
and
bought
up.