Bitcoin ( BTC-USD ) seesawed in a tight trading range Tuesday afternoon and is set to book a modest loss for February. Many cryptocurrency-exposed stocks, meantime, rose markedly during the session. The token's price, which has a history of being volatile, swung between gains and losses within the narrow $23.21K-$23.57K intraday range, changing hands at $23.31K, +0.1% , as of 2:51 p.m. ET. It was also a boring day for ethereum ( ETH-USD ), rising only 0.5% to $1.63K. For the month, the world's largest crypto by market cap ( BTC-USD ) is on track to post a loss of 1.3%, compared with January's 39.2% surge. Similarly, the stock market ( SP500 ) is looking to end February 3.3% lower versus the 5.1% spike in January. The losses come as market participants price in higher-for-longer interest rates on the heels of resilient economic data. Looking at a purely technical point of view, Seeking Alpha contributor Florian Grummes thinks "surprises remain to the upside" for bitcoin ( BTC-USD ) in the near-term provided the price can hold above $23.5K. "A breakout towards around 30,000 USD is the most likely scenario," he contended. That's despite a worrisome backdrop of restrictive monetary policy by many central banks to squash inflation as well as increased regulatory scrutiny of the crypto space. Some of the crypto-related stocks that gained the most during the session included: Coinbase Global ( COIN ) +13.3% , Bakkt Holdings ( BKKT ) +5.3% , Bit Digital ( BTBT ) +5.3% , Riot Platforms ( RIOT ) +6% and Marathon Digital ( MARA ) +4.9% . Elsewhere in the cryptoverse, FTX's Singh to plead guilty to fraud charge s.
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