Bitcoin Ticks Above $100K, Alt coins Drop as Analyst Expects Crypto Surge Into Summer

Following a test of the $100,000 threshold during early Thursday trading, bitcoin$BTC reversed to more than $103,000.

Bitcoin fell to slightly more than $101,000 on Thursday before rising above $103,000.

Alt coins lagged with APT, AVAX and UNI falling 6%-7%.

Analysts indicate the crypto$SOL decline is a correction within a larger uptrend

The crypto rally got a long-overdue breather on Thursday with the traders booking profits after weeks of unrelenting run that pushed bitcoin

BTC

$103,486.21

to near record levels.

The consolidation took place during a string of U.S. economic data releases. 

April retail sales fell short of forecasts, producer prices climbed less than expected, jobless claims remained on course, with the NY Empire State Manufacturing Index and Philadelphia Fed Manufacturing Survey pointing to easing business activity—indicators that did little to shake conventional markets.$BNB

The S&P 500 rose 0.4%, while the Nasdaq closed even.

Bitcoin retreated to $101,000 at the start of the U.S. session before recovering above $103,000 subsequently, little changed in the last 24 hours.