Bitcoin's price has bounced back to $64,300, with analysts predicting new three-week highs as the market continues to consolidate. The cryptocurrency has been trading between $60,000 and $70,000 for 307 days, making it the third longest consolidation period in its history.

The consolidation range is now the third longest period spent in any $10,000 price band in bitcoin's history, behind only the $10,000-$20,000 and $20,000-$30,000 ranges. Bitcoin continues to trade above its 200-week moving average, currently around $62,873, which has historically been a strong support level.

A reliable momentum gauge, the MACD histogram, has turned positive for bitcoin, signaling that the recent rally above $64,000 may have further room to run. The indicator's bullish turn shifts focus to key resistance levels between $65,000 and $80,000.

Metaplanet, a yen stablecoin issuer, is exploring the launch of bitcoin-backed digital credit products in Japan. The initiative aims to open Japan's credit market to more mid-sized and growth companies by using on-chain infrastructure for 24/7 trading, automated interest payments, and transparent redemptions.

A lawsuit seeking legal ownership of long-dormant Bitcoin addresses, including wallets tied to Bitcoin's earliest mining era, has narrowed after the plaintiffs dropped 44 defendants that moved funds after the case was filed. The lawsuit has drawn attention because the addresses collectively hold millions of Bitcoin, including coins from the network's earliest years and those associated with Satoshi Nakamoto.

• What: Bitcoin's price returns to $64,300
• Why: Market consolidation continues
• Impact: New three-week highs imminent
• Related: Metaplanet explores bitcoin-backed digital credit in Japan

Bitcoin's price is expected to continue its consolidation period, with key resistance levels between $65,000 and $80,000. The launch of bitcoin-backed digital credit products in Japan and the outcome of the lawsuit over Satoshi's Bitcoin are also worth watching.