Altcoin Rally Leaves Bitcoin Struggling at Key Resistance

A week marked by strong performances from altcoins has seen Bitcoin struggle to break through key resistance levels. The cryptocurrency, which had been under pressure due to a failed CLARITY Act in the US Senate and a Fed rate hike, saw a significant rally at the start of the week.

The price surged over $7,000 in less than 24 hours, with Bitcoin reaching $87,000 for the first time since January. This was largely due to massive inflows into Bitcoin ETFs (exchange-traded funds).

However, this strong resistance level has twice pushed back buyers, with the price dropping to as low as $83,000 on Thursday before rebounding.