Home Industry Finance Bitcoin jumps above $41,000, challenging past week’s tight range Bitcoin had spent the past few days mired in the tightest trading range since October 2020 by Bloomberg March 16, 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 per cent to $41,691 before giving up some gains and trading at $40,915 at 10.43am in Hong Kong. Other tokens like Ether and Solana also enjoyed brief spikes. It wasn’t immediately clear what caused the sharp gains. 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. Tags Bitcoin 0 Comments You might also like Bitcoin surges above $42,000 for first time since April 2022 Cryptoverse: ‘It’s a knife fight’ as traders get tokenised Bitcoin drops below $29,000 for the first time in over a month Bitcoin set for best week since March fuelled by speculation over ETFs