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Bitcoin is Moving Towards Neutral Consolidation

From Bullish Momentum to Range-Bound Trading

Ecoinometrics

Feb 24

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After 64 days of hopes in the mild bullish regime, Bitcoin is starting to slide into neutral consolidation territory.

That's not the worst place to be in. But it shows that uncertainty is gripping the bull market.

Let's take a look at it.

The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions.

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Bitcoin Shifts to Neutral Territory

The Takeaway

Bitcoin is shifting from a mild bullish regime to neutral consolidation as momentum weakens across price action, stock correlation, and on-chain activity.

Our model suggests a 48% probability of range-bound trading between $86,000 and $106,000 over the next month.

With the Federal Reserve unlikely to cut rates and ETF flows remaining weak, we expect a period of sideways trading similar to mid-2024.