he BTCUSD pair jumped above the $50,000 barrier

At the beginning of the week, bitcoin price extended losses to fresh early-March lows just below the $47,000 figure before bouncing strongly. The BTCUSD pair jumped above the $50,000 barrier, to touch the $56,400 level on Wednesday. However, the coin failed to challenge the 20-DMA and reversed lower as a result. On Friday, the digital currency erased losses seen a day earlier, to regain the $54,000 figure. Earlier this month, the digital currency reached a record $64,875 amid enthusiasm from the Coinbase Global Inc. listing. Since then, BTCUSD has been mostly on the defensive, falling below the 100-DMA earlier this month for the first time since early October.