Bitcoin Hits Resistance at $82,000 for Third Time
Bitcoin briefly touched $82,000 on Monday morning, its third attempt to break through this resistance level. The orange coin climbed approximately 1.5% towards $81,600 before retreating.
The price has now recovered above $81,000 despite the Federal Reserve's interest rate hike and recent setbacks for US crypto legislation.
Higher interest rates remain a significant obstacle for Bitcoin as it pays no interest, meaning higher cash and bond returns raise the standard it must meet to attract capital. However, the wider crypto market is showing signs of improving risk appetite, with Ether rising more than 3% towards $2,660 on Monday.
A confirmed break above $82,000 would shift attention toward the psychological $85,000 level and trigger stop-loss buying from traders positioned for another rejection.