A recent analysis from cryptocurrency analyst Rekt Capital discussed Bitcoin's current market situation after the latest halving event. The analyst mentioned that Bitcoin has moved from a retracement phase before halving to a reaccumulation phase now. This reaccumulation phase, which involves sideways trading, is important for preparing for the next upward trend in Bitcoin's price.

Rekt Capital shared important support and resistance levels, showing that Bitcoin is currently trading between approximately $70,000 as resistance and $66,000 as support. By comparing historical patterns, Rekt Capital pointed out that after the 2020 and 2016 halving events, similar reaccumulation phases lasted 160 days and 154 days, respectively.

Based on these historical references, Rekt Capital speculated that the ongoing reaccumulation phase could last around 150 days or more, possibly extending until late September or early October. The analyst suggested that a longer reaccumulation phase, surpassing 200 days, could help align Bitcoin's market cycle with historical norms and balance out the rapid growth seen before the halving.

Rekt Capital stressed the importance of Bitcoin going through a period of lower performance before outperforming, emphasizing the need for the current reaccumulation phase to stabilize the quick pace observed before the halving.

The analysis concluded with a recommendation for caution and patience, highlighting the necessity for Bitcoin to achieve significant milestones post-halving to stay in line with historical trends. The analyst proposed that a prolonged reaccumulation phase could help in achieving this balance, potentially leading to a more sustainable upward trajectory in the bull market.