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Coin Telegraph

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Image Credit: Coin Telegraph

How long will Bitcoin’s price consolidation last?

  • Bitcoin (BTC) price has been consolidating in a wide range between $80,000 and $88,500 since March 12.
  • BTC funding rates indicate low chances of a breakout, with indecisiveness dominating the market.
  • Onchain metrics suggest Bitcoin's recent rally was a relief rally within a broader downtrend, with little evidence of a structural bullish shift.
  • Tightening Bollinger Bands conditions indicate that Bitcoin's volatility may lead to a breakout in the near term.

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