Bitcoin (BTC) saw fresh local lows on Tuesday as limp price action diverged further from bullish sentiment.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin evades bullish continuation

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing at $46,700 on Bitstamp later dropping $2,000 in hours.

Part of a multi-day rangebound construction, the dip resulted in a push button toward $48,000, with bulls still unable to gather momentum for an attack on $50,000.

For popular trader Crypto Ed, $48,200 was the level to watch for continuation upward.

"Showing some catchy moves, retest failed overnight with that dump," he commented on the hourly nautical chart.

"Right now busy to impress a Bart pattern. Nevertheless having the same view: repossess that showtime horizontal and we're good to go."
BTC/USDT annotated ane-hour candle chart (Binance). Source: Crypto Ed/Twitter

The mood among analysts broadly stayed optimistic on the day despite price activity lagging whatsoever noticeable improvement in market activity.

Some highlighted conspicuous accumulation at current levels, while on-chain metrics such as illiquid supply were also a talking point.

"This wave of Bitcoin supply stupor has the almost momentum of any in recent history," William Clemente III, lead insights analyst at Blockware, noted.

"We're going much higher over the coming months."
Bitcoin illiquid supply relative strength index vs. BTC/USD chart. Source: William Clemente III/Twitter

Ether on the move

On altcoins, Solana (SOL) and Polkadot'southward DOT were the standouts in the top x cryptocurrencies by market capitalization.

Related: Price analysis eight/xxx: BTC, ETH, ADA, BNB, XRP, DOGE, SOL, DOT, UNI, LUNA

SOL/USD connected making new highs, gaining nineteen% on the mean solar day to near $120, while DOT/USD added 9.2%.

Ether (ETH) was also on the motility, up v% at the fourth dimension of writing and above $3,350 in what Cointelegraph contributor Michaël van de Poppe described every bit a "bullish" market.

"Ethereum billowy from support equally well on the $BTC pair. Looking skilful," he added.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView