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(Kitco News) – It was a rather uneventful week in the cryptocurrency market as far as price action is concerned, as the vast majority of tokens in the top 100 deviated less than 5% in either direction over the past seven days while the U.S. dollar rose to its highest level in 20 years.
Data from TradingView shows that after climbing higher throughout the early trading hours on Friday to hit a daily high at $20,460, the price of Bitcoin (BTC) dumped back below $20,000 in the afternoon session, putting bears on their heels as they scrambled to defend the psychologically important support level.
BTC/USD 4-hour chart. Source: TradingView
The lack of activity in the market was touched on in the morning Bitcoin brief…
