Bitcoin Consolidates Near 67,000 Amid Cautious Sentiment

Bitcoin hovered around 67,000 over the weekend, remaining mired in a prolonged consolidation phase below the 70,000 mark after a volatile week that saw prices swing between 65,700 and 69,200. The cryptocurrency has traded within a narrow band of 60,000 to 74,000 since hitting a one-year low of 60,000 on February 6, reflecting an 8 percent decline over the past 30 days.

Analysts pointed to the extended sideways movement as a potential precursor to a significant price shift. Michael van de Poppe, founder of MN Trading Capital, described the current range as stagnant, with no clear direction. "The longer it lasts, the heavier the breakout will be," he said in a post on X, targeting a potential move above 71,000, a level Bitcoin last reached on March 26. Such a breakout could signal renewed upward momentum, though traders emphasized the need for sustained volume to confirm any directional change.

Market sentiment remained deeply cautious, with the Crypto Fear and Greed Index registering a score of 11, placing it firmly in extreme fear territory. This subdued mood persisted despite recent macroeconomic and geopolitical developments, including presidential remarks on international...