Despite remaining rangebound below all-time highs, Bitcoin (CRYPTO:BTC) achieved its second-highest weekly close ever at $69,630, indicating resilience amid market volatility.

As BTC struggles around the $69,000 mark, traders anticipate a potential breakout influenced by forthcoming U.S. inflation data and the Federal Reserve's interest rate decision.

Analysis suggests whales are accumulating Bitcoin for medium-term profits, adding to market uncertainty amid a tug-of-war between bulls and bears.

Additionally, technical indicators point to historical resistance becoming support, signaling a bullish outlook for BTC's long-term trajectory.