Bitcoin price clings to $22K as investors digest the recent SEC actions and CPI report By Cointelegraph

After twenty days of holding the $22,500 support, (BTC) price finally broke down on Feb. 9. Bullish traders had placed their hope on a sustained rally, but this has been replaced by a tight trading range with resistance at $22,000.

The downtrend is even more concerning since the S&P 500 is trading near its highest level in six months, yet the wider crypto market continues to correct.