According to Michaël van de Poppe, Bitcoin is currently in a consolidation phase, with the potential for a breakout once it surpasses its all-time high (ATH). This period of consolidation is occurring amid the release of crucial labor market data, which could influence market dynamics if there is a significant deviation from expectations. Traders are advised to monitor Bitcoin's price action closely as it remains range-bound, awaiting a clear directional move. Source: Michaël van de Poppe.

According to CryptoMichNL, Bitcoin's market dominance is at a peak and may soon reverse. This potential reversal could occur in the coming weeks, influenced by a possible Ethereum ($ETH) reversal and negative labor market data. If these factors align, it could result in one of the most significant bearish divergences observed in recent times.