Bitcoin (BTC) denied bulls their large suspension on Nov. four as sideways action dragged the market ever closer to $60,000.

BTC/USD ane-60 minutes candle nautical chart (Bitstamp). Source: TradingView

BTC hodlers in "buy the dip" mode

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD back below $62,000 at 8 am UTC.

The pair saw a hard 24 hours subsequently hit local highs above $64,000, finally bouncing at $sixty,000 in a brief but meaning dip.

While some suggested the price action was a gift to investors looking to add to their BTC stash earlier further upside, analysts were more than focused on longer timeframes.

"BTC retest has been successful for three weeks in a row thus far," Rekt Upper-case letter noted about the strength of the $60,000 mark.

"It'south unfolding exactly every bit I expected: BTC completed its bounce to 64k and ETH's wheel reached 4600+," young man analyst Crypto Ed, meanwhile, said in a more cautious note on current price moves.

"Pulling dorsum at present, has to be seen if we indeed go that deep. When right, BTC to ~55k and ETH 37-3800."

While unpalatable every bit an event, a trip to the $50,000 range has long been on the tabular array — with Bitcoin still able to keep its overall bullish trajectory as a issue.

Altcoin all-time highs keep coming

Altcoins, meanwhile, connected to tag-team to hit new best highs in a curious difference from Bitcoin'southward uninspiring brusque-term performance.

Related: Friday's $540M Ethereum options expiry favors traders with targets at $5K

On Thursday, it was the turn of Ether (ETH) to cool from its new peak, while Solana (SOL) surged college to outperform the residue of the peak 10 cryptocurrencies past market capitalization.

SOL/USD i-hour candle chart (FTX). Source: TradingView

Polkadot (DOT) too returned after consolidation Midweek, hitting $54.55 to marker a farther record of its ain.