Investing.com -- Bitcoin was flat on Tuesday, a day after surging to a more than 12-month high, swinging between small gains and losses, though expectations remained that a test of the key $10,000 level is within reach.
Bitcoin fell 0.30% to $8,726 after hitting a high of $8,902.80 on Monday.
The choppy moves in bitcoin come after wave of new inflows over the weekend saw the popular crypto mount a successful break of $8,000 after several attempts, with many now watching for a test of the psychological $10,000 level.
Bitcoin's market cap, often used to gauge demand, rose to $153 billion from around $142 billion just prior to the surge seen on Sunday.
Many expect the $10,000 level, however, to act as resistance and keep a lid on the rally. But there are those who have not shied away from suggesting the popular crypto could burst past $10,000 as early as this week or next.
With bitcoin trading above its 50-, 100- and 200-day moving averages, the popular crypto Bitcoin is likely to move past $10,000 this week or next, said Naeem Aslam, chief market strategist at ThinkMarkets, according to MarketWatch.
"The moving averages are very important because they define the trend; if the price stays above them, it shows that the uptrend is strong and when it starts to trade below them, then it means a downtrend," Aslam said.
Bitcoin's sluggish day was not mirrored by other cryptocurrenies, with XRP/USD up 9.77% to $0.45390, ETH/USD up 3.26% to $274.65 and LTC/USD adding 1.67% to $115.4.