Bitcoin (BTC) is on track to test its range lows on May 8 as analysts express their boredom with the market post-halving. BTC price is currently heading towards $62,000 during the Asia session, following a rebound beyond $65,500 a few days ago. However, a subsequent 5% retracement has left BTC/USD in a range that has been in place since before the weekend. If the daily close falls below $62,100 or if there is prolonged inactivity, it could trigger a stop-loss. Traders are frustrated with the lack of direction since Bitcoin’s block subsidy halving in mid-April. Some remain optimistic, expecting a more sustained upside in the future. In the ETF sector, the outlook is mixed as Grayscale pulls plans for an Ether futures ETF product, and US-based Bitcoin ETFs see net outflows after two days of inflows.
Bitcoin bulls experience post-halving 'ennui' as BTC price holds steady at $62K