Bitcoin analysts predict ‘prolonged’ consolidation phase for BTC price

Glassnode analysts said Bitcoin remains stuck between “key cost-basis levels,” adding that a prolonged consolidation period may lie ahead for BTC even if traders are actively buying dips to the range lows.

Fresh data from Glassnode claims that Bitcoin (BTC) could be in for another “prolonged phase of range-bound” price action if key support levels are not reclaimed.

Key takeaways:

Bitcoin is stuck between key cost-basis levels, predicting 2022-type consolidation unless key support levels are reclaimed.

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