Since April, and in particular since mid-June, bitcoin’s has reversed abruptly anytime it has attempted a breakout above $30,000. The most dramatic occasion came on July 13 when the cryptocurrency surged to a one-year high above $31,800 following a favorable court ruling for XRP in the U.S. Securities and Exchange Commission case against Ripple, the firm that sells XRP. Within hours, bitcoin gave up not just the $31,000 level, but also the $30,000 one, and within days slid below $29,000.
Source: https://www.coindesk.com/markets/2023/08/10/bitcoin-rallies-keep-getting-quickly-sold-whats-up/?utm_medium=referral&utm_source=rss&utm_campaign=headlines