Bitcoin jumps past $71,000 after weeks of flat trading

Bitcoin had been stuck moving sideways in a narrow price range for about six weeks, and it just broke above that range to top $71,000. The jump was sharp enough that it forced about $3 billion worth of 'short' bets (trades wagering the price would fall) to be automatically closed out at a loss, which likely added extra fuel to the price rise.

If you're holding bitcoin, this is a notable price move up after a period of calm, though it doesn't change anything about the underlying technology or your holdings.

No action needed just because of a price swing. If this creates urgency to make a quick decision, it's worth taking a breath and remembering price moves like this happen regularly in crypto.