Bitcoin (BTC) challenged brand-new support levels on October. 14 subsequently overnight successes took the market past $58,000

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin "dips" to near $57,000

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as information technology reversed toward $57,000 after hit highs of $58,540 on Bitstamp.

The moves mimicked the first time Bitcoin had attacked $58,000 in February — several attempts interspersed by consolidation, followed ultimately by a run to April's all-time highs.

Despite on-concatenation indicators showing that Bitcoin is a different beast in Q4, still, the mood was simply as bullish this time around.

"Bitcoin is nigh likely just continuing this grind towards the best highs," Cointelegraph correspondent Michaël van de Poppe wrote in his latest Twitter update.

"Bang-up bounciness from $54K. Highly doubt we'll meet a retest at $50K happening."

Cementing $50,000 as support — admitting for a second time in 2022 — would course a clear indicate on the market trajectory as pundits ready for what they await to be an explosive cease to the year.

For trader and analyst Rekt Capital, however, there was a potential cause for business concern this calendar week. Zooming out, BTC/USD has failed to close a weekly candle above $60,000, and a repeat performance could as well spell a copycat correction.

That leaves bulls until Lord's day to crack a historical watermark, something which may still be helped before Monday's approving conclusion on a futures-based exchange-traded fund.

Polkadot breakout headlines altcoin render

Altcoins, meanwhile, saw brief respite from weakness in the face of "Bitcoin season."

Related: Price analysis 10/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI

The exception was Polkadot'southward DOT, upwards 28% in a week on news that its auctions would finally brainstorm next month — a key original characteristic five years in the making.

DOT/USD i-hour candle chart (Kraken). Source: TradingView

The largest altcoin, Ether (ETH), managed 5.3% daily gains, with all of the elevation ten cryptocurrencies past market capitalization trading college on the day every bit Bitcoin slowed.