Rally expectation in Bitcoin: Is the accumulation process over?

Bitcoin is currently pricing in its longest consolidation period, but according to traders, the longer the consolidation period, the greater the rise will be.

Bitcoin has been experiencing its longest consolidation period in 92 days, and analysts say this long-term stability could set BTC up for a “major upside rally.” “In general, the longer a consolidation lasts, the greater the subsequent rise,” noted analyst Daan Crypto Trades in an X post dated June 11.

Analyst Mag said, “When the price breaks out of this consolidation range, we will witness a major upward rally.” He emphasized that shorter consolidation periods that brought ATH were encountered in previous cycles.

In the cycle after Bitcoin’s halving in 2020, there was a 21-day consolidation period before BTC rose and finally reached its all-time high of $ 69,000 in November 2021.

Accumulation in Bitcoin raises expectations for ATH

This year’s data reveals that BTC has been in a consolidation phase since reaching its all-time high of $73,679 on March 13, or 92 days ago.

Consolidation periods refer to times when volatility in Bitcoin is lower than usual. Since reaching its all-time high, Bitcoin has priced in a 26 percent range and briefly dropped to $58,253 on May 2.

Previous assumptions made by crypto analysts were that the consolidation period could extend at least until September or even October.

On May 16, Cointelegraph shared that Capriole Investments founder Charles Edwards shared that the stock and crypto cycle as well as Bitcoin onchain information suggest that Bitcoin’s price could consolidate for four to five months.