Bitcoin 

BTC

$17,217

 continues to trade in a range with the local tops and bottoms coinciding with increased whale activity in the region, according to on-chain analytics resource Whalemap.

The range-bound action in Bitcoin has kept the analysts guessing and a few expect the consolidation to continue for some more time, while others anticipate another leg lower.

A June 6 Glassnode report said that the aggregated realized losses from long-term holders reflected more than 0.006% of the market capitalization on May 29. This is in comparison to the peak of 0.015% of the market capitalization reached during the 2018 to 2019 bear market.

Along with the quantum of losses, investors may also have to be prepared for a longer duration of subdued prices. The duration of the current loss for long-term investors is only one month old, while the previous losses remained roughly for a year.

Could the lackluster trading action in Bitcoin and other major altcoins continue? Let’s study the charts of the top-10 cryptocurrencies to find out.