Analysts expect bitcoin to remain above its 200-day moving average.
Support at $42K-$44K could stabilize the pullback.
"We still have support at $44,000 and $42,000, which is the line in the sand for short-term momentum," one investment officer said.
According to Alejandro Zelaya, businesses will not be penalized if they do not accept bitcoin.
Bitcoin and other cryptocurrencies are consolidating near recent highs.
However, only about 58% of nodes are operating channels and earning yield.
Bitcoin uses less than half the energy the banking system consumes, according to recent data.
The cryptocurrency is down 3% in the last 24 hours.
BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
Low levels of daily trading volume persist as bitcoin struggles to edge higher while short positions build.
Analysts expect traders to take a breather after the crypto's recent rally.
The outflow was partly because of low investor participation due to seasonal effects, also seen in other asset classes.
Bitcoin's uptrend is improving despite brief pullbacks.
Bitcoin is joined by ether and cardano, which have surged 11% and 53% in the last seven days respectively.
The largest cryptocurrency by market value was trading close to its highest level in more than two months