Bitcoin bulls battle with post-halving ‘ennui’ as BTC price stubbornly holds onto $62K

Bitcoin (BTC) is facing a potential drop to the lower end of its range on May 8 due to post-halving “boredom,” according to analysts. BTC’s price has been moving towards $62,000 during the Asian session, following a rebound above $65,500 a few days ago. However, a 5% retracement has left BTC firmly within a range that has been in place since before the weekend. A daily close below $62,100 or prolonged inactivity could be seen as a stop-loss. Traders have expressed frustration at the lack of direction since the halving in mid-April. Some remain optimistic, while Bitcoin ETFs have seen mixed impressions, with net outflows on May 7. As always, readers should conduct their own research before making any investment decisions.