Bitcoin's Future: Traders, Rally, Regime, Six Figures, and 2023 Highs.

Cryptocurrency markets have been trading within a tight range due to regulatory uncertainty and the US banking crisis. The lack of risk appetite is likely due to conflicting forces. The recent crypto sideways trend suggests that investors are hesitant to place new bets until there’s more clarity on whether the US Treasury will continue injecting liquidity to contain the banking crisis, which favors inflation and positive momentum for scarce assets. The options market shows whales and market makers unwilling to take protective puts even after Bitcoin crashed 7.8% on May 1. However, given the balanced demand on futures markets, traders seem hesitant to place additional bets until there’s clarity on whether the US Treasury will continue to bail out the troubled regional bank sector.