Why is Bitcoin price stuck? By Cointelegraph

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© Reuters

The price of (BTC) has consolidated sideways for several days in a row and July 5 is no different despite modest losses.

BTC price dipped over 1% to around $30,350 on the day. Still, its price action remained flat overall, and within the range of the past two weeks, between $31,400 and $29,500.

daily price chart. Source: TradingView
BTC/USD daily price chart ft. ascending triangle setup. Source: TradingView
Bitcoin long-term MVRV. Source: Glassnode
BTC/USD weekly price chart. Source: TradingView