Analysis: Bitcoin’s first momentum attempt failed; if it defends the $62,300 level, it can still maintain sideways consolidation.

Blockchain analytics platform Swissblock has released a report stating that Bitcoin’s first momentum ignition has failed, meaning the earlier trajectory pointing to the March-April period remains valid. The firm explained that the momentum indicator briefly rose above the zero line but lacked sufficient strength to complete a full ignition, and has now returned to the "Transition Area". Swissblock added that as long as Bitcoin holds the $62,300-$62,500 range and the momentum indicator stays within the Transition Area, the current sideways consolidation will persist. It noted that momentum ignition failures are not uncommon; the key point to monitor is whether Bitcoin breaks below the Transition Area. If this level is breached, Bitcoin will exit its current consolidation structure and face renewed risk of falling into the capitulation phase.