Bitcoin plummeted below $63K, retreating to the lows seen at the start of last week and below the 50-day moving average. We had previously viewed the price’s ability to hold above this level as a sign of market strength. Overall, this is the prolonged consolidation around the 200-week moving average that we have repeatedly warned about. Based on historical patterns, this period of low market activity could last between 18 and 70 weeks, and we are only nine weeks in.

Crypto News

The leading cryptocurrency has yet to show a confident recovery, despite the favourable macroeconomic backdrop. Sustained demand has not yet returned, but…