Bitcoin, the number one cryptocurrency by market capitalization, touched the pivotal $60,000 level once again at 5:02 p.m. UTC on the Bitstamp exchange.
Bulls, however, are struggling to gain footing above the aforementioned price point, with Bitcoin slightly retracing to $59,785.
Earlier this week, the crypto king plunged to as low as $55,567, raising doubts about the longevity of the ongoing bull market.
