Bitcoin Sees Longest Stretch of Price Consolidation Since October

Bitcoin (BTC) is witnessing the longest stretch of range-bound price activity in three months.

The leading cryptocurrency by market capitalization has been largely restricted to trading between $3,700 and $3,500 since Jan. 11 – the longest stretch at such a narrow range since the end of October.

Back then, the market had gone quiet, with prices staying within the $6,500–$6,350 range in the 12 days leading up to Oct. 28. On the following day, BTC dropped to $6,208. After another period of sideways movement, bitcoin fell well below the crucial support level of $6,000 on Nov. 14.

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