"Bitcoin slipped today, retreating from a record high as the U.S. government shutdown entered its seventh day. Bitcoin edged down to the $121,000 range, and remains below Monday's all-time peak of $126,296, per Bitbio data. Despite the minor pullback, Bitcoin has surged roughly 30% since the start of the year and is up about 9% over the past week. Gold, meanwhile, continued its historic rally, briefly topping $4,000 per ounce overnight, with futures trading at $3,980 early Tuesday, reflecting a 50% gain for the year."
"Analysts say Bitcoin's recent correction - from its all-time high down to around $122,000 - is healthy and may be setting the stage for further gains. The $120,000 level currently acts as key support, while resistance is seen near $135,000. "Overall, dips are for buying," said market analyst Mags on X, noting that a daily close above $123,300 could trigger additional upside. Onchain data underscores strong buying momentum."
Bitcoin retreated from an all-time peak to trade around $122,096, slipping to the $121,000 range and remaining below Monday's $126,296 high. Bitcoin has risen roughly 30% year-to-date and about 9% over the past week. The U.S. government shutdown has lasted seven days, yet markets appear largely unfazed. Analysts view the pullback to roughly $122,000 as healthy, with $120,000 acting as key support and resistance near $135,000. Onchain metrics show strengthening momentum: Glassnode reports RSI rising from 44 to 66 and rising futures open interest as traders added longs. Gold briefly topped $4,000, buoyed by central bank buying and dollar weakness.
Read at Bitcoin Magazine
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