Strong

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Rekt

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-67000-with-strong-gains/" data-wpel-link="internal">Bitcoin Surpasses $67,000 with Strong Gains</a> 
The world’s largest cryptocurrency, <a href="https://en.coin-turk.com/bitwises-bitb-spot-bitcoin-etf-surpasses-100-billion-milestone/" data-wpel-link="internal">Bitcoin</a> (BTC), surpassed $67,000 last week with double-digit gains, showcasing significant strength. Currently trading at $67,132 with a market value of $1.32 trillion, many analysts believe Bitcoin is in a consolidation phase, offering a final bargaining opportunity before continuing its rally post-block reward halving. 
<h2 style="text-align: justify" id="strong-last-bargaining-opportunity-in-bitcoin-strong">Last Bargaining Opportunity in Bitcoin</h2> 
Popular cryptocurrency analyst Rekt Capital claims Bitcoin is in a post-halving pullback phase before continuing its upward trend. The 2024 block reward halving pullback reached -23.6%, marking the deepest pullback of the current cycle. This phase is seen as the last chance to buy Bitcoin at a favorable price post-block reward halving. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-353366" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-BTC-Analiz.jpeg" alt="" width="1794" height="1266"> 
The block reward halving pullback set the stage for a consolidation range that starts a few weeks before the halving and ends with a breakout a few weeks after. This range fluctuates between approximately $60,000 and $70,000, occasionally extending beyond these limits. The consolidation phase can last from a few weeks to potentially up to 150 days before Bitcoin enters a parabolic upward trend and accelerated growth phase. 
In 2020, Bitcoin experienced a -19% pullback post-block reward halving, followed by a 160-day consolidation period before entering a parabolic phase. Similarly, in 2024, Bitcoin saw about a -24% pullback post-block reward halving. If historical trends repeat, Bitcoin could consolidate for up to 160 days before entering a parabolic phase, indicating significant price increases. This cyclical behavior highlights the potential for substantial price rises following periods of stability. 
<h2 style="text-align: justify" id="strong-market-trend-and-small-investors-strong">Market Trend and Small Investors</h2> 
Despite the recent market recovery, Bitcoin remains just above $66,100 as small <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> continue to liquidate their BTC. According to Santiment, the tendency of small wallets to sell their coins to larger wallets has historically been a bullish sign for Bitcoin, indicating strong market fundamentals and potential for <a href="https://newslinker.co" target="_blank" rel="noopener nofollow noreferrer" data-wpel-link="external">future</a> price increases. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-353367" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-BTC-Yorum-Analiz.jpeg" alt="" width="2518" height="1734"> 
Analysts like Rekt Capital emphasize that Bitcoin’s current phase offers a strategic buying opportunity for long-term investors. The consolidation range provides a stable foundation before Bitcoin potentially enters a parabolic upward trend driven by both historical patterns and current market dynamics. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-67000-with-strong-gains/" data-wpel-link="internal">Bitcoin Surpasses $67,000 with Strong Gains</a></h5>

Bitcoin Surpasses $67,000 with Strong Gains

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