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Bitcoin tops $81,455, then pulls back as altcoins consolidate

The move follows BTC breaking to its highest level since May 15, with $82,800 identified as the next key resistance area after a rejection in May.

Reported · Written up by our desk · Market Structure

Bitcoin rose to about $81,455 on Friday, its highest level since May 15, before pulling back. CoinDesk data showed the price last trading around $79,850, down about 0.5% over the prior 24 hours after testing the overnight high.

CoinDesk highlighted the $82,800 area, where bitcoin was rejected in May, as the key level to watch for a potential breakout. BTC also marked the first time it returned to the $81,455 zone since the earlier move that later bottomed near $57,000 after the May rejection.

Altcoins were broadly softer after midnight, with most tokens giving back roughly 2% to 3%, while the Altcoin Season index stood at 34 out of 100, indicating bitcoin continued to dominate. CoinDesk also noted the TRUMP memecoin jumped about 24% on derivatives-driven momentum despite no obvious news catalyst.

On the broader market backdrop, CoinDesk reported gold added about 0.2% and silver rose more than 2% on Friday, while Nasdaq 100 index futures were down about 0.3%. The outlet added that since a U.S. Treasury bond buyback announcement on Aug. 19, bitcoin has gained roughly 26% while Nasdaq futures have fallen, extending a divergence.

Latest closeGold $4,445.30 ▲1.2%|Silver $67.91 ▲2.4%|Bitcoin $77,087.06 ▼1.5%

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