- Bitcoin consolidates tightly despite trading near its all-time high.
- On-chain activity weakens even as BTC price gains momentum.
- Liquidity sweeps expected near $115.4K and $120.4K resistance zones.
Bitcoin continues to trade within a tight $115K–$121K range as momentum slows near all-time highs. Traders are monitoring price reactions around the mid-range level of $118K, which has seen the most volume. Network activity has diverged from price movement, with active addresses declining sharply. Analysts suggest caution as volatility near range extremes could lead to short-term price swings.
Price Consolidates Near Record Highs
Bitcoin remains in a sideways pattern, oscillating between $115,000 and $121,000, according to market analyst Daan Crypto Trades. The 4-hour and 1-hour charts both show BTC trading near previous highs without a decisive breakout or breakdown. The mid-range zone around $118,000 has become a key area of support and resistance on lower timeframes.
Daan noted that this consolidation phase may last another week, urging traders to avoid getting caught in a potential “chop.” He identified $115.4K and $120.4K as crucial boundaries where price could sweep liquidity before any directional move. Despite being near its all-time high, Bitcoin’s structure shows signs of paused bullish momentum.
Active Addresses Decline Amid Price Strength
Meanwhile, CryptoQuant data shows a decline in active Bitcoin addresses, despite the price rising to $119,000. From late 2022 to mid-2023, address activity often surpassed 1 million. However, since early 2024, that figure has consistently dropped below 800,000.
Currently, active addresses hover around 967,700. This decline may indicate a shift toward long-term holding or reduced retail participation. Analysts suggest that growing institutional involvement could result in fewer wallet movements, explaining the drop in network engagement.
Traders Eye Liquidity Zones as Range Holds
At the time of writing, Bitcoin is trading at $118,409.90, marking a modest 0.27% gain in the last 24 hours. With BTC showing no clear breakout, traders are closely watching the range highs and lows. Liquidity sweeps near $115.4K and $120.4K could trigger short-term volatility.
Daan Crypto Trades emphasized patience, noting the market may continue to move sideways. Until a strong move occurs beyond the current range, Bitcoin’s price is likely to remain trapped.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
