Bitcoin (BTC) reclaims $60,000 level after brief drop

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.

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