Bitcoin has been trading in a tight range between $91,000 and $102,000 for 81 days, with little directional momentum and only a 4.3% peak-to-trough movement. Altcoins have struggled amid uncertainty, with meme coins like PEPE losing 46.4% over the past month. Bitcoin’s stability suggests capital flows away from altcoins, reinforcing its dominance. The global altcoin market cap has dropped by $234 billion in 14 days, while Bitcoin has held steady, signaling a growing divergence. Realized losses for Bitcoin investors have been high, particularly for short-term holders, but long-term holders have continued to hold their positions. Despite some bullish catalysts, traders remain cautious.
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