Bitcoin has been consolidating between $80,000 and $88,500 since March 12, with indicators suggesting this trend may persist. Low funding rates in the BTC futures market indicate bearish sentiment and market indecisiveness. Recent data shows average funding rates hovering around zero, suggesting continued consolidation. Onchain metrics revealed that the recent rally to $87,500 was merely a relief rally amidst a broader downtrend. Glassnode's analysis points to deteriorating investor profitability and indicates a lack of structural bullish momentum, hinting at a potential period of weakness ahead. However, Bitcoin's volatility indicators, particularly the tightening Bollinger Bands, suggest a breakout could be upcoming, similar to past patterns where such conditions preceded significant price increases. If history holds, Bitcoin may soon move out of consolidation towards an upward trend. Investors are advised to conduct their own research before making trading decisions.

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