While Bitcoin remains in a tight price range, analysts attempt to predict its future movement. Let's consider the comments from a CryptoQuant analyst on possible consolidation and market uncertainty.
Current Bitcoin Market Situation
Recently, Bitcoin has been trading within the $90,000 to $106,000 price range. A CryptoQuant analyst noted a decline in the number of active Bitcoin wallets and transactions, slowed ETF spot accumulation, and fund outflows.
Historical Consolidation and Its Impact
The analyst recalled that in 2024, Bitcoin underwent a seven-month consolidation phase, ending with a spike following Donald Trump's victory in the US election.
Factors of Uncertainty and Predictions
Despite Trump's pro-crypto stance, market uncertainty was fueled by trade war fears. The analyst suggests that if market conditions improve and uncertainty resolves, Bitcoin might continue its upward trend. However, ongoing uncertainty could lead to another consolidation phase.
The Bitcoin market remains uncertain. Significant price movements depend on multiple factors, including resolving current market uncertainties.
