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Bitcoin Rangebound; Initial Support at $40K, Resistance at $46K

Bitcoin (BTC) was trading in a tight range between $43,000 and $44,000 over the past 24 hours. Support is nearby, which could limit pullbacks over the short term, CoinDesk’s Markets Analyst Damanick Dantes explains. He adds that traders are looking forward to March’s pending rate hikes by the Federal Reserve.

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Videos

Yellen Tones Down Rate Hike Comments; Hints at US Crypto Regulatory Framework Need

During a Wall Street Journal event Tuesday, U.S. Treasury Secretary Janet Yellen clarified her previous comments on inflation, saying she’s “not predicting or recommending” rate hikes. BTC has bounced back nearly 7% in the past 24 hours.

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