BTC is attempting to break above a series of lower price highs since April 1, which suggests buyers are gaining strength as sellers retreat.
Slowing bitcoin volume suggests retail traders are less active with their "stimmy" checks compared to 2020.
"Miners may be holding in anticipation of a price rally," one analyst said.
Bitcoin may be building for a big move as price volatility hits four-month low.
Bitcoin buyers and sellers are in a stalemate as oversold rallies have been limited on intraday charts.
Analysts at Bloomberg Crypto argue the largest cryptocurrency might be due for a run analogous with the steep rallies of 2017 and 2013, following prior "halvings" on the blockchain network.
NFT prices are falling, but it doesn't point to a market crash as investors eye long-term value.
Despite short-term volatility, bitcoin's uptrend remains intact. And some traders could be shifting to altcoins.
It's not your imagination: Token listings on Coinbase tend to bring bigger price pops than on other cryptocurrency exchanges like Binance and Kraken.
Volume has significantly slowed over the past two weeks, which is typical of a consolidation phase and could lead to sharp price moves.
Bitcoin lost ground after Upbit suspended KRW deposits and withdrawals.
Inflows to crypto funds jumped from a five-month low of $21 million the prior week.
Bitcoin is drawing the highest "kimchi premium" in three years, indicating retail frenzy in South Korea.
The XRP token's price continues to draw support from a community of loyal and devoted cryptocurrency traders.
BTC continues to consolidate, although selling pressure remains limited to rising support levels on intraday charts.