Bitcoin's current price action behavior since the Halving occurred entered a range that has been oscillating between $60,000 and $70,000, which has somehow generated a state of boredom and apathy.
In the most recent article socialized by William Suberg it was stated that, "Sideways price movement tends to manifest as investor boredom and apathy, which seems to be the dominant response in all Bitcoin markets."
One fact to know is that, "BTC prices are consolidating within a well-established trading range. Investors remain in a generally favorable position, with over 87% of the circulating supply held in profit, with a cost basis below the spot price"
As for the volatility seen in the last week, "However, this is notably lower than the peak of over 55,000 BTC/day recorded when the market reached the all-time high of USD 73,000 in March, where speculation levels were becoming excessive."
What is certain is that, "Among the most important lines in the sand now on the radar is the aggregate buying price for Bitcoin's speculative investor base, the so-called short-term holders."
SOURCES CONSULTED
Cointelegraph. Bitcoin price uptrend ‘intact’ with hodlers 120% in profit — Research. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
