A bullish start to the day saw Bitcoin rise to an early morning intraday high $42,77.0 before hitting reverse.
Falling short of the first major resistance level at $43,646, Bitcoin slid to a late intraday low $40,928.0.
Bitcoin fell through the 38.2% FIB of $41,592 and the first major support level at $41,425 to end the day at sub-$41,100 levels.
The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a bearish day on Tuesday.
Crypto.com Coin slid by 6.28% to lead the way down.
Early in the week, the crypto total market rose to a Monday high $2,014bn before sliding to a Tuesday low $1,809bn. At the time of writing, the total market cap stood at $1,829bn.
Bitcoin’s dominance fell to a Monday low 41.46% before rising to a Tuesday high 42.56%. At the time of writing, Bitcoin’s dominance stood at 42.24%.