๐จ Bitcoin May Enter Extended Consolidation Phase: K33 Analysts
Analysts at K33 warn that Bitcoin may enter a prolonged consolidation phase, similar to market conditions seen in late 2022.
Key insights from Head of Research Vetle Lunde:
Market signals (leverage demand, trading activity, macro outlook) mirror SeptโNov 2022 cycle lows
Investor caution rising โ reduced borrowing and lower BTC trading volume
Buying interest has dropped to a 4-month low
Institutional players remain hesitant, with some trimming BTC holdings
๐ BTC is expected to range between $60,000โ$75,000 in the near term, favoring long-term accumulators over short-term traders.
Bottom Line:
Bitcoin may not fall sharply โ but a quick rebound is unlikely. Patience could be key in this phase.๐
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