Bitcoin (BTC) came close to $31,000 at the beginning of this week, but it was unable to surpass that milestone.
Today, BTC is trading just below $30,500 amid weak volatility. Galaxy Digital CEO Mike Novogratz commented on the cryptocurrency’s position the day before.
In an interview with Bloomberg, he said that the consolidation phase is dragging on. BTC is unlikely to break out of the $28,000 to $32,000 range as long as trader activity remains low.