Bitcoin has been experiencing extended periods of consolidation, with recent data showing it spent 111 days between $54,271 and $59,699. Currently, it has been trading in the range of $59,700 to $65,670 for 126 days and counting. This pattern is reminiscent of past consolidations, such as the $8,000 to $12,000 range where bitcoin traded for hundreds of days.
If history repeats itself, this current consolidation phase could extend further. It’s important for investors to monitor these trends closely to make informed decisions about their bitcoin holdings.
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