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Bitcoin drops back from above 98k yet again

As covered here at the time, Bitcoin lifted above 98k again on Friday. Following that update the lead coin did extend slightly and reached a high at 98,715. However, as you can see, it stalled just short of the previous interim high, at 98,943 and of course did not threaten the current record, at 99,728. The price action into the weekend saw it slip back into the wider US monthly close and drop back further into the start of the weekend. Bitcoin hit a low on Sunday at 95,760. Stepping back slightly, if one looks at the relative performance of BTC versus some of its peers, the gains whilst impressive since the US election, have not been that stellar. For example Dogecoin (XDGUSD) has risen by 200% and  Ripple (XRPUSD) has risen 150%. So compare that to the 45% rise in BTC and it looks rather modest. Perhaps we can blame the ETF market for that?- keeping a lid on more frivolous gains seen elsewhere. So, is BTC finally going to catch-up this week? We shall see, but right now it is lower so far this morning. The lead coin has dropped back from an earlier session high, at 98,191. The low seen so far has been set at 96,160. So, it remains to be seen, just now many times it will balk at 100k, before the patience really does run out. BTC is currently trading at 96,360
 

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