Crypto fund flows are slowing, which could suggest investor uncertainty about BTC's price.
BTC could peak by next June before entering a bear market, according to Chinese crypto miner Jiang Zhuoer.
Based on an analysis of price chart patterns, bitcoin is about halfway through its current bull market, which began around the March 2020 low.
Turks might be looking for bitcoin as a potential store of value against further currency weakening or as a hedge against inflation.
BTC is moving sideways as its short-term uptrend slows.
Crypto mining stocks could deliver amplified returns during a bitcoin bull market, according to FundStrat research.
The month-long uptrend from $43,000 remains intact, although longer-term signals are weakening.
The cryptocurrency's price fell with stocks amid growing concerns about rising U.S. Treasury yields.
The General Services Administration has been auctioning bitcoin since 2014, when the FBI shut down the Silk Road black market.
There is "no good reason to own BTC unless you see prices going up," the bank says, but it is intrigued by decentralized finance.
The number of unique addresses holding more than 1,000 BTC has shrunk by over 8% since Feb. 8 as whales take profits.
Bitcoin's rally reignited the short-term trend and will now test resistance around $60K as it eyes all-time-highs.
The Wall Street firm sees signs of maturation especially given its resiliency since the height of the pandemic.
“Short-term momentum remains positive, but far less so than in February,” writes one analyst.
The active supply of bitcoin held for shorter periods of time keeps shrinking, according to Arcane Research.