Fear still pervades the crypto market. Bitcoin (BTC) has managed to stay above the important $58,000, but sentiment is still poor. However, certain macro indicators have now signalled that a big change is coming. Is Bitcoin about to do the unexpected and head back to the all-time high?
A long period of consolidation was necessary
When Bitcoin started its wild ride upwards in September 2023, not many were expecting the eventual 196% gain, equivalent to $49,000 in the space of around 180 days. This was a huge surge, only interrupted by one short correction of 21%.
Such a massive movement would need a long period of consolidation in order for the market to absorb it. 24 weeks after reaching the all-time high at $73,800, certain indicators are signalling that this could be the time that $BTC rises out of its current boring sideways and downwards price movement, and starts on the next stage of the bull market.
$BTC wakes up with a bang
Source: TradingView
In the short term time
We współpracy z: https://cryptodaily.co.uk/2024/08/is-bitcoin-btc-about-to-do-the-unexpected
