Bitcoin price holds range but needs fresh demand to break higher
Bitcoin trades near key support at $104,000, but weak volume, fading onchain metrics, and sticky inflation point to more price consolidation.
Key takeaways:
BTC is consolidating within a descending channel, but weak onchain activity suggests a lack of momentum.
Rising Core inflation data (2.7%) and sticky price growth reduce the likelihood of Fed rate cuts, maintaining pressure on Bitcoin and risk assets.