Coin360 data showed that the BTC/USD pair broke out of its narrow trading range of 9,000 to 9,500 US dollars early Friday.
Bitcoin Flickers Bearishly
By and large, this corridor had characterized the largest crypto currency since the end of October. A short rise above $9,520 soon met with resistance, while a slump to $8,000 was also short-lived.
In daily trading, Bitcoin reached a local low of $8,980 before recovering.
As Cointelegraph reported, analysts have been expressing more and more concerns about price behavior in recent weeks and months. The CME Group’s Bitcoin futures market has attracted particular attention.
There, the Bitcoin price filled a “gap” in trading and suddenly plunged hundreds of dollars before recovering minutes later.
Filling futures gaps has become Bitcoin’s standard behavior for analysts to predict potential market drops.
However, some remain optimistic over the long term, as Michaël van de Poppe, whose article appears on Cointelegraph several times, predicts this week that the BTC/USD will rise to a new all-time high of $22,000 next year.
XRP continues to fall ahead of competitors
After Bitcoin two big Altcoins showed a bad performance on Friday: XRP and Bitcoin SV (BSV). As mentioned earlier, XRP, the token originally connected to the Ripple payment network, was not convincing while the latter’s annual swell conference started this week.