Bitcoin (CRYPTO: BTC) is trading sideways, with investors’ weakening conviction conviction pointing to a psychologically difficult phase of the market cycle.
Why Investors Are Getting Jittery
Data from CryptoQuant suggests the market is currently in a highly uncertain phase marked more by hesitation than conviction.
Several on-chain indicators point to weakening investor confidence:
- Apparent demand briefly improved following the latest sell-off but quickly turned negative again, indicating buyers remain cautious.
- The CryptoQuant Bull Market Cycle Indicator currently signals a bear-market consolidation phase, typically associated with sideways price action and frustrating …