Bitcoin (BTC) Fails to Hold $63K, May Remain Range-Bound

Bitcoin (BTC) rose during the European morning on Monday, peaking at around $63,200, before retreating below $62,800. BTC may be again trying to rally above $64,000, of which there have been numerous instances this month, all of which have been sold off. This behavior, along with transaction numbers plummeting, points toward a consolidation in the market and the possibility of bitcoin being range-bound for the time being. At the time of writing, bitcoin is 2.34% higher in the last 24 hours at $62,543. The CoinDesk 20 Index (CD20), which measures the broader digital market, has added 1.1%, with the likes of ETH and SOL showing more modest gains, trading just below $3,000 and $150 respectively.

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