Bitcoin (BTC) briefly topped $35,000 Wednesday for the second time this week, but prices quickly reversed as that level appeared to trigger numerous sell orders, perhaps from miners, suggested one hedge fund manager.
The $35,000 area represents a monthly resistance level for the price, and could mean that bitcoin will consolidate below for some time following the crypto’s big run higher, said Charles Edwards, founder of Bitcoin-focused hedge fund Capriole Investments.
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