On February 16, 2025, Bitcoin experienced a period of weekend consolidation. At 10:00 AM UTC, Bitcoin was priced at $48,321, a minor increase of 0.3% from its opening price. The 24-hour trading volume was approximately $22.4 billion. The cryptocurrency traded within a narrow range, between $48,100 and $48,400, signifying low volatility.
Network activity also saw a slight decrease. Active Bitcoin addresses fell by 2.5%, from 850,000 to 828,750. Ethereum, similarly, showed a small price increase of 0.2%, reaching $3,150 at 10:00 AM UTC. Its 24-hour trading volume was $1.8 billion. This consolidation followed a week of higher volatility where Bitcoin had previously peaked at $49,500.
This period is important for traders. The narrow trading range hints a potential major price movement. Key levels to watch are support at $48,000 and resistance at $48,500. A break above or below these levels could be the next significant move of the value. The reduction in active addresses could suggest weaker buying pressure. Ethereum’s stability, with a 24-hour trading volume of $15.2 billion for its USD pair, might offer a balancing factor against Bitcoin’s potential movements. The correlation between the two cryptocurrencies was notably strong.
Technical indicators offered a mixed view. Bitcoin’s Relative Strength Index (RSI) suggested a neutral market, while the Moving Average Convergence Divergence (MACD) showed a potential short-term downward trend. Long-term moving averages, however, remained bullish. Trading volumes remained relatively stable. For the Bitcoin/Ethereum, indicators also pointed to low volatility and a potential upcoming breakout.
There were no reports of impactful developments for AI. AI-related tokens showed a stable correlation with major cryptocurrencies. Trading volumes for AI tokens on decentralized exchanges witnessed increased slightly. Overall, positive developments in the AI sector continue to foster optimism.
