Bitcoin has been consolidating within the $30,000 region throughout the past few days and weeks
Bulls and bears have largely reached an impasse, with buyers and sellers both being unable to spark any trend
This comes as large institutional inflows show some signs of tapering, with these buyers largely being viewed as the ones responsible for the recent market-wide surge
The latest Commitment of Traders (CoT) report from the CME reveals a striking trend – institutions are increasingly adding to their long exposure
This seems to invalidate the notion that institutions are slowing their accumulation habits and may point to an imminent wave two of buying from these parties
Bitcoin has seen mixed price action as of late, with the selling pressure in the upper-$30,000 region slowing its ascent as bulls and bears largely reach an impasse.
Where the crypto market trends in the mid-term may depend largely, if not entirely, on whether or not Bitcoin can continue stabilizing or break above $40,000.
Any strong rejection here could cause the crypto to see some notable losses that potentially lead altcoins to follow suit and selloff as well.