The Bitcoin market has shown relatively stable price movement recently, with small fluctuations occurring within a broader range. Yesterday, the cryptocurrency experienced a downward break below the $43,000 mark, which had been acting as a crucial psychological support level. As a result, it is very likely that BTCUSD will continue to consolidate around the $42,000 range.
As the decline in trading activity persists, many investors are expected to take advantage of the situation and secure their profits.
Nevertheless, there is a strong likelihood that Bitcoin will resume its upward trajectory after a brief period of consolidation, supported by a potential resurgence in trading activity this week. This assumption is further reinforced by the recent issuance of 1 billion Tether tokens, a trend that typically boosts the overall market capitalization of the crypto market. However, it is worth considering that these newly introduced USDT volumes could also be utilized for profit-taking purposes.