Altcoin up sharply, Bitcoin relief rally thwarted at $34,000
Several altcoins made double-digit daily gains, while Bitcoin's relief rally found a wall at $34,000 Bitcoin's (BTC) contraction below $30,000 was short-lived: the cryptocurrency quickly found support thanks to a new wave of buyers, including MicroStrategy with its $10 million acquisition. Data from Cointelegraph Markets and TradingView show that this influx of funds allowed BTC to reach a daily high of $33,866. While waiting for the Biden administration to approve a multi trillion dollar stimulus package conversations about Bitcoin as a store of value are back and more heated than ever. Although Bitcoin's recent volatility has prompted some analysts to argue that the cryptocurrency is a cyclical asset rather than a hedge, the downturn has drawn the attentions of retail investors, who have taken advantage of the price drop to…