Bitcoin Enthusiasts Keen to Break $108,000 Barrier, Faced with Stiff Resistance from Sellers (Market Monitor)

Bitcoin's value has repeatedly attempted to surpass the $108,000 mark in the last two days, indicating a bullish trend. However, sellers have been staunchly defending this level, preventing any significant increase. The cryptocurrency has reached this key level several times but has yet to break through successfully. Currently, Bitcoin is trading around $107,500, and it remains to be seen whether the bullish trend can push it above the $108,000 hurdle.

It's important to note that Bitcoin has reclaimed its 50-day exponential moving average, a critical technical indicator which is often seen as support during corrections in a broader bullish trend. Meanwhile, the performance of altcoins has been mixed, with Bitcoin Cash showing a nearly 4% increase on the day, while others such as HYPE, ADA, DOGE, SUI, HBAR, and DOT have dropped between 2% to 5%.