According to Michaël van de Poppe's recent analysis, Bitcoin's price continues to consolidate as of January 13, 2025. This consolidation comes in the context of challenging macro-economic conditions, notably the rally in yields and the strengthening of the US Dollar. Bitcoin's price has hovered around $35,000 to $36,000 over the past week, maintaining a tight range without significant breakout or breakdown movements. This price behavior suggests a period of accumulation, where traders are neither aggressively buying nor selling, awaiting clearer market signals.

The macro-economic climate exerts pressure on the cryptocurrency market, affecting Bitcoin and especially altcoins. The strong Dollar, which reached a new high for the year, impacts global liquidity flows into riskier assets such as cryptocurrencies. As a result, altcoins have been underperforming, with Ethereum dropping by 5% over the past week, closing at around $2,400. This downward trend is reflected in smaller market cap coins, with many experiencing double-digit percentage losses. These movements highlight the sensitivity of altcoin markets to broader economic conditions and the dominance of Bitcoin as a more stable crypto asset during turbulent times.

Technical indicators further illustrate the current market dynamics. Bitcoin's Relative Strength Index (RSI) has been hovering around 50, indicating a neutral market sentiment. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing signs of potential bullish crossover, though confirmation would require sustained upward momentum. Trading volumes have been modest, with Bitcoin's 24-hour volume averaging around $15 billion, slightly below the monthly average. This reduced trading activity reflects a cautious market stance, as traders assess the potential impact of external economic factors. Overall, the market's response will likely depend on further macro-economic developments and their influence on investor confidence.