11:31 ET--Bitcoin has been moving sideways for more than a week as steady accumulation from big holders offsets escalating macroeconomic friction, XS.com's Simon-Peter Massabni says in a note. Bitcoin's biggest holders have been adding to their positions, the analyst says. But renewed conflicts in the Middle East drove up crude oil prices to a 40-day high recently, rekindling broader inflationary risks, Massabni says. Those concerns have diminished hopes for aggressive monetary easing from the Fed, despite softer labor market and manufacturing prints, causing demand for Bitcoin ETFs to decelerate, the analyst says. Bitcoin's price will probably remain constrained within its current consolidation range until ETF inflows reignite or bond yields retreat, Massabni says.