Bitcoin’s price consolidation that started a few days ago continues, as the asset seems stuck at the $118,000 level.
While most larger-cap alts have mimicked BTC’s underwhelming performance during the weekend, some, such as OKB, MNT, XMR, and LINK, have soared by double digits.
BTC Consolidation Endures
The business week started on the right foot for bitcoin as the bulls initiated a leg up that pushed it from $118,000 to just over $122,000 on Monday alone. Although the asset retraced in the following days, it went on the offensive hard on Wednesday and Thursday morning once again.
The culmination occurred in the early hours of August 14, when BTC skyrocketed past its July all-time high and set a new one at just over $124,500. Following this $5,000-$6,000 price pump in hours, though, came the almost inevitable correction that drove BTC down to $121,000.
The worst was yet to come later that day, after the release of the hot PPI data for July. Bitcoin reacted with an immediate price d
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