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On Thursday, the broader crypto market trimmed its losses as investors began to absorb the aftershock of Tesla's decision to dump 75% of its crypto holdings one year after touting BTC's long-term potential. BTC seems stuck in a narrow range and remains stubbornly close to its 50-day moving average. As of the time of writing, the largest cryptocurrency by market cap is trading stably above the $23k mark after posting a marginal gain over the last 24 hours. BTC's upside momentum will likely accelerate if it could close above the $23.9k handle. Alternatively, it may move down to retest support near the $22.7k mark and the 100-hour moving average.