Business Maverick

Business Maverick

Bitcoin Jumps Above $41,000, Challenging Past Week’s Tight Range

Andre Francois Mckenzie bitcoin Photo:unsplash Sasha-Crypto in 2022

A sudden spike in Bitcoin on Wednesday brought the largest cryptocurrency out of the narrow range where it’s spent most of the past week. 

Bitcoin jumped as much as 5.7% to $41,691 before giving up some gains and trading at $40,915 at 10:43 a.m. in Hong Kong. Other tokens like Ether and Solana also enjoyed brief spikes. It wasn’t immediately clear what caused the sharp gains.
Largest crypto stages sudden jump, climbs most in a week

Bitcoin had spent the past few days mired in the tightest trading range since October 2020, a phenomenon some market watchers ascribed to long-term holders stepping in to buy whenever the token dips. Meanwhile, selling by short-term investors has kept Bitcoin and other digital assets from mounting sustainable gains.

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