Bitcoin has been in a range-bound consolidation for two consecutive months, with historical patterns suggesting the market may repeat a downward trend

Odaily News: Bitcoin has been fluctuating within a range for two consecutive months, with price highs concentrated between $72,000 and $75,000, and lows between $62,000 and $65,000. A similar situation occurred from November last year to January this year, ultimately leading to a broad market decline. Therefore, the current market cannot rule out a repeat of this scenario.

In terms of derivatives data, the overall market remains in a consolidation phase. Bitcoin's open interest (OI) is stable at approximately $16.7 billion, showing little change from last week, indicating that speculative activity remains steady. Funding rates have returned to a neutral range of 0%-6%. The previous negative funding rate environment fueled a rebound driven by short covering. Sentiment in the options market is stabilizing, with the proportion of call options rising back to 47%. However, the front end of the implied volatility term structure is inverted, indicating that traders are still prioritizing hedging against short-term downside risks. (CoinDesk)