Bitcoin holds above $100,000 despite crypto market consolidation — Yahoo Finance

According to Yahoo Finance, the cryptocurrency market rally took a long-overdue pause on Thursday, as traders began taking profits after weeks of uninterrupted gains took the value of bitcoin near record highs. Nevertheless, for now, the major cryptocurrency is holding above the psychological $100,000 level.

Earlier in the beginning of the US session, the value of BTC fell to $101,000, but then recovered to above $103,000, showing a slight decline over the past 24 hours.

Meanwhile, the situation in the altcoin market is worse, with the CoinDesk 20 index down 3%, while Aptos ATP, Avalanche AVAX and Uniswap UNI tokens declined 6–7%.

According to Ruslan Lienkha, head of YouHolder, the current pullback in the value of the main cryptocurrency is a correction within the medium-term uptrend. Moreover, such a slowdown in bitcoin growth occurred against the backdrop of the postponement of the introduction of duties between the US and China, which prompted short-term traders to lock in their profits.

As noted by Yahoo Finance, the prospects for a positive change in the cryptocurrency's value could manifest by the onset of summer and end by the end of August.