Bitcoin up just 0.6% Ethereum up 2% The altcoin market remained largely stagnant.

Looking back over the last week, Bitcoin and many of the altcoins have shown little volatility in their price movements. Investors and analysts alike are hanging in the balance, carefully eyeing potential catalysts that will tip the scales towards a larger, sustained market movement.

Bitcoin’s meager climb is indicative of a consolidation phase following dramatic price swings. That range remains intact as the king of crypto continues to have its hand forced by uncertainty in the market.

Ethereum's 2% increase suggests growing confidence in the platform's ongoing developments and potential future applications. Much of this increase is due to anticipation related to these big changes ahead. It signifies the increasing acceptance of decentralized applications (dApps) developed on the Ethereum blockchain.

The altcoin market’s lack of movement reflects the same hesitation from investors to take a risk. Bitcoin’s price impacts a majority of altcoins to a large degree. When Bitcoin is stagnant, the entire altcoin market tends to follow suit.

Further, industry participants are looking closely at regulatory developments, macroeconomic indicators, and technological advancements in the blockchain space. These issues are contentious for sure, but they will dramatically affect which way the crypto market goes. Look for their influence in the near to medium term.

Traders should keep a close eye on these on-chain data. They look at transaction volumes, active addresses, and whale activity to get a sense of market sentiment and identify potential buying or selling opportunities. These next few weeks may be most critical as the market looks for clearer heads to prevail.