The Bitcoin price remains in a narrow range, the crypto market is tense

The price of Bitcoin (BTC) has been in depressing territory for some time. Since the explosive rally, the price has been moving sideways and is just below $52,000. Over the past day, Bitcoin has attempted to break out both lower and higher, but to no avail. In this market update you can read everything about the current state of affairs on the crypto market.

Bitcoin price remains in consolidation zone

Since February 14th or last Wednesday, Bitcoin has been moving in a range between around $50,900 and $52,400, with the exception of a few brief outliers.

Bitcoin has also consolidated properly within this price range in the last 24 hours.

Early yesterday afternoon, Bitcoin slipped but found support at the lower end of the range. In the evening, Bitcoin appeared to be heading towards the top of the range, but the price did not rise above $52,000.

A fresh decline has brought the price back to the support level, more precisely around 5:00 am. Thanks to a slight recovery, the price is currently several hundred dollars higher.

Bitcoin price CoinMarketCap
The Bitcoin price for the last 24 hours. – Source: CoinMarketCap

While Bitcoin price remains within the above-mentioned range, the Relative Strength Index (RSI) has broken out higher on the 4-hour chart, signaling increasing momentum.

At the time of writing, the BTC price on the SATOS-operated crypto exchange Bybit is $51,241. On the Dutch crypto exchange Bitvavo, the BTC price in euros is 47,360. Compared to 24 hours ago, BTC is down 0.93%.

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What will Bitcoin do in March? Of course, no one knows, but one can always speculate. Share your expectations for next month in the survey below!

The top 10 cryptocurrencies are stagnating, Solana is falling the fastest

Bitcoin's consolidation phase is clearly visible among the largest altcoins in the market. The entire top 10 crypto coins are practically at the same price as 24 hours ago, with only price fluctuations of a maximum of a few percent.

Only Ethereum (ETH) and BNB (BNB) are turning green. Ethereum is up 0.54% and BNB is up 0.73% in the last 24 hours.

Solana (SOL), on the other hand, is the biggest loser with a loss of 2.10%. Other popular cryptos like Ripple (XRP) and Cardano (ADA) fell by 0.42% and 0.95%, respectively.

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