Bitcoin (BTC) is entering a crucial period of market digestion, with a growing number of leading crypto analysts forecasting a phase of “prolonged consolidation.” This prediction suggests that the dominant cryptocurrency will trade within a relatively tight and defined range for several weeks, if not months, following its recent rejection from all-time highs and the subsequent dip below $65,000.
Analysts point to several technical and macro factors driving this sentiment. Primarily, buying momentum appears exhausted after the significant run-up leading into the halving event. Spot BTC ETF flows, while still positive overall, have dramatically slowed down and experienced periods of net outflow, indicating reduced immediate institutional demand.
Technically, the market is finding solid foundational support near the critical $60,000 level, which many consider the psychological floor for the current cycle. Resistance, however, remains stiff between $68,000 and $70,000. Chart patterns show BTC trading squarely between its 50-day and 100-day exponential moving averages, a classic setup for sideways movement. According to research firm KryptoInsights, ‘This sideways action is necessary to clear out leveraged positions and build a solid launchpad for the next major leg up. We expect the $60,000 to $70,000 band to hold throughout the early summer.’
Macroeconomic uncertainty, particularly related to the US Federal Reserve’s ambiguous stance on interest rates, is also dampening aggressive risk appetite across global markets. Analysts caution that while consolidation is frustrating for short-term traders, it is ultimately a healthy characteristic of a sustainable bull market. However, a decisive breakdown below the $58,000 mark could signal a deeper correction, potentially invalidating the current mid-term bullish structure.
Source: Bitcoin analysts predict ‘prolonged consolidation’ for BTC price
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