When you try to stop BTC, it only gets stronger!
Bitcoin is maintaining a bid tone today, with prices testing the $7,000 mark.
As per the CoinDesk Bitcoin Price Index, the world's largest cryptocurrency by market capitalization rose to an intraday high of $7,009 at 11:25 UTC. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is around $7,007 levels. Data from CoinMarketCap indicates that bitcoin has gained nearly 6.74 percent in the last 24 hours.
The move marks a recovery of around 25 percent from bitcoin's recent lows near $5,000, though is still at least 10 percent short of the record highs above $7,800 hit last week.
Price action analysis suggests the tide is slowly turning in favor of the bulls, although the last major domino – the 61.8 percent Fibonacci retracement – is yet to fall.