Bitcoin (BTC) Briefly Touches the $67,600 Mark, Other Altcoins Land in the Green

Bitcoin (BTC), the world's oldest and most valued cryptocurrency, managed to briefly touch the $67,600 mark before settling down at around $66,900 early Wednesday.

Bitcoin price surged on Wednesday, rising past the $66,000 mark and reaching a nearly three-month high. However, BTC price later faced resistance and pulled back from the highs. At the time of writing, Bitcoin price was trading around $66,941.08, registering a 2.03 percent 24-hour gain.

A closer look at the 24-hour price chart for Bitcoin reveals a period of volatility and sharp price movements. Initially, BTC price surged rapidly, climbing from around $64,900 to nearly $67,600 in a matter of two hours. This surge was followed by a quick pullback, with BTC price dipping to as low as $64,900. However, buyers quickly stepped in and pushed the price back up, recovering the losses and continuing the rally.

This swift price movement was driven by a period of profit booking, traders noted. As Bitcoin price surged past the $67,000 mark, traders who had entered the market at lower prices quickly booked profits, leading to the sell walls being hit and BTC price pulling back sharply.

Despite the volatility and profit booking, Bitcoin price managed to hold above the $65,000 level and continue trading in the greens throughout. The 24-hour price chart also showed a period of relative calm, with Bitcoin price consolidating within a narrower range after the initial surge and pullback.

Overall, Bitcoin price remained on the uptrend and continued to trade at elevated levels, with a 24-hour gain of over 2 percent and a price of $66,941.08 at the time of writing.

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