Groundwork For Potential Bitcoin Recovery Is Forming, Say Analysts

Bitcoin remains firmly in the middle of its almost two-month-long sideways channel following weekend declines, during which it dumped below $66,000 briefly. “Momentum remains tentative, with lower highs still defining the short-term structure,” commented on-chain analytics provider Coinglass on Monday. The analysts noted that the market appears to be transitioning from “active distribution towards a more neutral foot…