Bitcoin (CRYPTO: BTC) is trading sideways, with investors’ weakening conviction conviction pointing to a psychologically difficult phase of the market cycle.

Why Investors Are Getting Jittery

Data from CryptoQuant suggests the market is currently in a highly uncertain phase marked more by hesitation than conviction.

Several on-chain indicators point to weakening investor confidence:

Apparent demand briefly improved following the latest sell-off but quickly turned negative again, indicating buyers remain cautious.

The CryptoQuant Bull Market Cycle Indicator currently signals a bear-market consolidation phase, typically associated with sideways price action and frustrating… Read more on Benzinga