Bitcoin (BTC) stayed true to grade on Nov. 22 every bit the hour before the Wall St. opening bell was met with a sudden surge.

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

Skittish Bitcoin darts effectually beneath $60,000

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose almost $3,000 in minutes after hit multi-twenty-four hours lows of $56,640 on Nov. 22.

The pair had seen strong rejection after briefly breaking the $lx,000 mark, this now clearly interim as resistance and a disquisitional level to break in club to proceed the balderdash run.

As Cointelegraph reported, opinions continue to favor a return to full-on gains for Bitcoin, albeit with the specter of missing the predicted "worst-case scenario" monthly close by a considerable margin looming in the background.

"The ii virtually effective means for BTC to prolong the amount of time it spends in a Bull Run is either via extended consolidation... Or via deep corrections," Rekt Capital letter summarized on the twenty-four hour period.

Cointelegraph contributor Michaël van de Poppe meanwhile argued that it would even exist healthy for Bitcoin to continue its consolidation for the rest of 2022.

"Right now, in the recent toll movements, Bitcoin'south price has shown a rejection of the exact aforementioned level equally the cerise zone couldn't suspension upwards. This crimson zone is the $60,000 resistance expanse to breakthrough," he added aslope a chart as part of his latest newsletter.

"Right at present, Bitcoin's cost action is rejecting heavily from that region, resulting in a breakup of the price towards the support levels, once again. In that way, as long equally Bitcoin stays beneath $lx,000, in that location's no reason to go bullish."

At the time of writing, Bitcoin circled $59,000 with volatile behavior persisting after the run-upwardly.

Powell set to remain Fed Chair

Bitcoin thus escaped unscathed in a daily market seeing little by way of impressive operation from any token.

Related: $60K becomes resistance — 5 things to watch in Bitcoin this week

The pinnacle ten cryptocurrencies by market cap were mostly all flat for a second twenty-four hour period running, with simply Solana (SOL) seeing noticeable gains of just over 5%.

DXY i-hour candle chart. Source: TradingView

On the macro leve, news that U.S. President Joe Biden had picked Jerome Powell to serve another term as Chair of the Federal Reserve lifted bond yields.

The U.S. dollar currency index, already at highs not seen in over a yr, continued higher, passing 96.iii.