Bitcoin remained relatively unbudged on Thursday and throughout this morning after encountering a sharp whipsaw session earlier in the week.
The world’s largest cryptocurrency fell a full 6% between Monday and Tuesday before changing course with a 4.2% rally at the mid-week point.
However, after this classic bout of volatility, the BTC/USD pair has settled closer to the sub-$96,000 price point.
At the time of writing, the pair was trading at $96,140.
Bitcoin is up 127% year to date – Source: tradingview.com
Bitcoin’s levelled performance follows a mammoth post-election bull run for the digital currency.
As president-elect Donald Trump secured a sweeping victory in the US elections on a pro-crypto policy platform, it rocketed to a fresh all-time high of $96,600.
The bulls fell just shy of smashing $100,000 as a bout of profit taking put an end to these jumbo gains.
Bitcoin exchange-traded funds inflows have cooled down alongside relaxing spot prices.
Farside data shows a net outflow of less than $20 million over the past two days. This follows a period of multi-billion-dollar inflows throughout the preceding week.