Bitcoin Consolidates Above Key Support at $60,000

Bitcoin's price has been consolidating in a tight range between $60,000 and $65,000, as traders weigh mixed signals from on-chain data and broader market uncertainty.

The cryptocurrency has held above key support at $60,000, with buyers stepping in to prevent a breakdown. On-chain data shows that long-term holders have been accumulating during the recent dip, a pattern historically associated with market bottoms.

However, regulatory headlines and macroeconomic data releases remain sources of uncertainty, which could sway market direction. The upcoming options expiry may also introduce short-term volatility.