The cryptocurrency market remains in a consolidation phase. Bitcoin closed on Monday, February 16, at $68,716. At the time of writing, BTC is trading around $68,245.
The second-largest cryptocurrency by market capitalization, Ethereum (ETH), is up about 1.0% compared with the previous day. At $1,976, the coin is approaching the psychologically important $2,000 level.
Solana (SOL) is posting a daily gain of around 1.9%.
Overall, the market remains in a post-crash consolidation phase and is largely moving without a clear direction. For the fifth consecutive week, Bitcoin has closed below the prior week’s level.
Major price breakouts are not expected this week. The macroeconomic calendar is unusually light, with few significant data releases and no major central bank decisions scheduled. As a result, market participants’ attention will be focused on U.S. core inflation data due on Friday.
cryptocurrency journalist and market analyst who has accumulated great experience. He shares practicable insight with traders, investors, and enthusiasts of the crypto world. John loves to explore the dynamic Web3 space, which involves blockchain technology or different coins besides decentralized applications (dApps) leading decentralized finance (DeFi), smart contracts or interoperability among blockchains, non-fungible tokens (NFTs), real-world assets (RWAs), and artificial intelligence combining blockchain. John has worked for leading cryptocurrency resources, among them FORECK.INFO, CoinGape, CryptoNews, and Business2Community