Bitcoin (BTC) broadly held levels at $44,000 and above on Feb. 16 amid fresh optimism that another macro low would be avoided.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding after an overnight dip to $43,725 on Bitstamp.
In a tightening range, the pair looked increasingly primed for a breakout up or down Wednesday, as support and resistance levels stayed within a short distance of spot.
While fears that a stocks correction could cause fresh pain for bears remained, one analyst, in particular, argued that there was now hardly any impetus to sell BTC after three months of downside.
“When I consider everything BTC HODLers withstood in 2021- When I observe global de-risking for 3+ months- When I see 48% of Realized Cap STILL held from 3–12 months ago after a $33k scare- I ask: with all existing FUD priced in, barring surprises, who remains to sell here?” TXMC argued…read more.