Bitcoin Consolidation Signals Potential Boom, Says Analyst

Recent weeks have seen a resurgence in Bitcoin’s price, pushing it past the $95,000 mark and nearing a total market value of $3 trillion. While currently consolidating between $93,000 and $95,000, analysts suggest this consolidation is preparing for an explosive upward surge. Analysts anticipate that prolonged consolidation paired with negative funding rates could drive a strong bullish momentum in Bitcoin, while external macroeconomic factors will also influence market sentiment.