After all the hype, and the accompanying bullish behavior of the price, that preceded the halving of Bitcoin, which occurred on May 12, after the last of 210,000 blocks had been mined, Bitcoin seems to have taken time off from any sizable gains (or losses). As of writing, BTC rests in the tight trading range between $8700 and $9700 that began to take shape after the post-halving 15% bullish impulse.
For the past several months, it has been typical for the Bitcoin price to consolidate for a prolonged period of time, which then was usually followed by a stint of high volatility, and the subsequent noticeable price movement. BTC is likely to adhere to that scenario during this cycle of price action, too, so traders should prepare themselves for an upcoming strong impulse.
Indecision that favors the bears
Bitcoin's dominance over the altcoin market is one of the first things that has to be taken into consideration when trading. As things stand, BTC had been losing weight significantly in the overall market capitalization, as its dominance went from being at 69% on May 7 to 65.8% on June 6, before it began showing signs of bottoming out, thus giving altcoins some breathing space.
Bitcoin dominance chart