After a surprise rally on Friday, the largest cryptocurrency saw a slow comedown through much of the weekend.
Asian stocks tracked losses, fuelled by various issues including India’s ongoing COVID-19 debacle.
As Cointelegraph reported, DXY and Bitcoin tend to be inversely correlated, but last Friday proved to be another notable exception.
A look at buy and sell demand from the orderbook of major exchange Binance shows resistance is still strong at $60,000 and above, and bulls will need to knock down several walls of sell orders to break out beyond the current all-time high of $64,500.
Nonetheless, appetite for Bitcoin could well be seeing a new bullish phase as stablecoin balances on exchanges fill up.
With that out of the way, however, the door is open for returning mining hash rate to up competition and return difficulty to positive, not negative, adjustments.
Hash rate, meanwhile, has all but recovered from its prior shock, standing at around 161 exahashes per second.
Its score tends to highlight when a price floor is in, or conversely, when a sell-off is due.