Bitcoin consolidates near $29,300 as stocks climb ahead of retail sales data

- Volatility spiked in the crypto market on Monday but had little effect on the macro picture as Bitcoin continues to trade in a narrow range while altcoins stagnate in the absence of any major developments.

At the closing bell, the S&P, Dow, and Nasdaq all finished in the green, up 0.58%, 0.07%, and 1.05%, respectively. MN Trading analyst Gunter Lackmann also noted Bitcoin’s stagnant price action in the latest edition of the Trade Letter, saying, “Bitcoin has mainly remained flat since last week with only little ups and downs.”“With the push up last Tuesday, hopes for an AMD [accumulation, manipulation, distribution] pattern playing out were kindled briefly, but price has since dropped back under $29.5k,” Lackman said.

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