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Bitcoin sheds 6% in battle for all-time high support amid falling funding rates
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Bitcoin (BTC) briefly dipped below $63,000 later on Oct. 21 as a standard correction cooled the market.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it came off all-time highs above $67,000 to hit lows of $62,860 on Bitstamp.
The roughly 6% drop from its peak came as little surprise to seasoned traders, despite Bitcoin so far failing to create solid support at the site of its previous all-time high of $64,900.
"Bitcoin is still undergoing this retest attempt," popular trader Rekt Capital wrote in his latest update, suggesting that the old high could still flip to support.
Others took the chance to poke fun at the jittery mood on social media, where various users were getting cold feet observing the retracement.
It's
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