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\n\t\t\t\t\t\t\t\t\tBitcoin prices could continue to consolidate for a while yet, as network activity indicates decreasing momentum amid reduced selling pressure.\u00a0\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin didn\u2019t remain above $70,000 for long and has fallen back below it in early trading on Wednesday morning.\u00a0Resistance was too strong, and it has returned to the middle of its five-week range-bound channel.<\/p>\n
Long-term holder activity has decreased significantly, declining to levels typically seen during bear markets, according to CryptoQuant analyst \u2018Darkfost\u2019 on X on Wednesday.<\/p>\n
They added that this decline in activity \u201creflects a reduction in selling pressure, which likely helps Bitcoin continue consolidating.\u201d<\/p>\n
\n\ud83d\udcc9 LTH activity has decreased significantly, to the point where it has returned to levels typically seen during bear markets.<\/p>\n
This chart shows the monthly total of BTC spent by LTHs.
\u2070Be careful when interpreting the spike in November, as it corresponds to the period when\u2026 pic.twitter.com\/kXIRnpukdy<\/a><\/p>\n\u2014 Darkfost (@Darkfost_Coc) March 10, 2026<\/a><\/p>\n<\/blockquote>\n
Months of Boring Sideways Markets<\/h2>\n
Analyst \u2018Daan Crypto Trades\u2019 observed<\/a> that it has been another week where BTC\u2019s price closed below the 200-week exponential moving average, a very long-term trend indicator.\u00a0He added that it tried to get back above it on this push early in the week, but failed, falling back below $70,000.<\/p>\n
Meanwhile, the bull market support band is \u201cmoving down rapidly and will meet the price relatively quickly, as long as it keeps hovering around here,\u201d he added.\u00a0This could result<\/a> in months of consolidation and sideways markets.<\/p>\n
\n\u201cMy base case is still that we will spend quite a while in this larger, let\u2019s say ~$60K-$80K region. Could easily take several months before we see a decisive move again, I think.\u201d<\/p>\n<\/blockquote>\n
\u201cBack and forth. Back and forth. That\u2019s the current rhythm of Bitcoin,\u201d commented<\/a> MN Fund founder Micha\u00ebl van de Poppe on Tuesday. \u201cNo breakout, but the longer it stays in here, the stronger the move will be,\u201d he added.<\/p>\n
You may also like:<\/h3>\n
Meanwhile, \u2018RedHotTrade\u2019 said<\/a> Bitcoin is \u201ccompressing between $60,000 and $70,000 and \u201cmultiple technical patterns are forming at once.\u201d<\/p>\n
\n\u201cWhen several patterns point to the same breakout level, the move that follows is often explosive.\u201d<\/p>\n<\/blockquote>\n
Analyst Matt Hughes observed that BTC price keeps getting rejected just above $71,000, \u201cso we can\u2019t celebrate a real breakout until weekly candles close above this level.\u201d<\/p>\n
Crypto Market Outlook<\/h2>\n
Crypto markets are flat on the day with total capitalization remaining at $2.45 trillion, close to where it has been since early February.<\/p>\n
Bitcoin was rejected<\/a> at $71,600 on Tuesday and had fallen back to $69,600 at the time of writing. Meanwhile, Ether prices remained tightly coiled just above $2,000, slowly eroding previous minor gains.<\/p>\n
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