Rally

Bitcoin

when

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s 92-day consolidation could lead to a price rally, traders predict.</li> 
 <li>BTC is currently trading above $67k.</li> 
</ul> 
<p>Bitcoin has recorded a 92-day consolidation period, as noted by important traders via X. Usually, the longer the consolidation, the larger the expansion of the coin’s price.</p> 
<p>Pseudonymous crypto trader Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1800257376022622474" rel="nofollow" target="_blank">posted</a> recently via his X account that BTC has seen more than 90 days of consolidating near the previous cycle’s ATH.</p> 
<p>The trader continued and said that when BTC breaks higher, we can expect to see another price rally, following such a long period of price consolidation.</p> 
<p><a href="https://x.com/DaanCrypto/status/1800257376022622474/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GPu_-JiXoAA4aDz?format=jpg&amp;name=large" alt="GPu JiXoAA4aDz?format=jpg&amp;name=large" width="1341" height="796" title="Bitcoin's 92-Day Consolidation Could Trigger A Massive Rally 14"></a></p> 
<p>In a previous cycle after the 2020 Bitcoin halving, there was a 21-day consolidation period before BTC broke out, and the coin eventually hit an ATH of $69,000 in November 2021.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://cointelegraph.com/news/bitcoin-price-set-massive-rally-amid-92-days-consolidation-period" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" src="https://s3.cointelegraph.com/uploads/2024-06/666a1074-ac3f-4012-b5b8-0d0eb7b7091f.png" alt="BTC consolidation across cycles " width="1856" height="1179" title="Bitcoin's 92-Day Consolidation Could Trigger A Massive Rally 15"></a>
 <figcaption class="wp-caption-text">
  BTC consolidation across cycles
 </figcaption>
</figure> 
<p>Bitcoin has been in a consolidation phase since it hit its ATH of almost $74,000 on March 13, 92 days ago.&nbsp;Consolidation periods are times when BTC’s trading volume and volatility are lower than usual.</p> 
<h2 id="bitcoin-is-trading-above-67k">Bitcoin is trading above $67k</h2> 
<p>At the moment of writing this article, BTC is trading above $67,000 after a sudden spike above $68,000 just earlier.</p> 
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<p>Despite recent price volatility during the past few days ahead of important economic US data and amidst an unexpected <a href="https://crypto.ro/en/news/bitcoin-miners-sold-1200-btc-on-june-11-largest-daily-selling-volume-since-late-march/">miner capitulation</a> phase, BTC remains surrounded by optimistic predictions.</p> 
<p>On June 12, the&nbsp;<a href="https://crypto.ro/en/news/bitcoin-above-69k-following-new-cpi-report/">CPI</a> report came out showing eased inflation. Also, following the FOMC meeting, the Fed decided to leave the <a href="https://crypto.ro/en/news/us-federal-reserve-pauses-interest-rate-hikes-following-todays-cpi-report/">interest rates unchanged</a>&nbsp;at 5.25% to 5.50%.</p> 
<p>Recently, Mike Novogratz said that we could see BTC<a href="https://crypto.ro/en/news/bitcoin-could-reach-100k-by-year-end-in-a-friendlier-crypto-climate/"> reaching $100,000</a> in 2024 in a crypto-friendlier political climate. So far, Trump has been proven to be<a href="https://crypto.ro/en/news/trump-meets-bitcoin-miner-execs-from-cleanspark-and-riot/"> the most supportive</a> Presidential candidate for the crypto industry.</p> 
<p>Earlier today, it’s been reported that Microstrategy has announced its intentions to <a href="https://crypto.ro/en/news/microstrategy-plans-500m-convertible-note-sale-to-boost-bitcoin-portfolio/">raise $500 million</a>&nbsp;to buy more Bitcoin. This will be done through a convertible senior note offering, with the option of an additional $75 million.</p> 
<p>In an <a href="https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-500m-of-convertible-senior-notes_06-13-2024" rel="nofollow noopener" target="_blank">official release</a>, MicroStrategy wrote that the notes will be insecure, senior obligations of the firm, and will bear interest payable semi-annually in areas on June 15 and December 15 of each year, beginning on December 15, 2024.</p> 
<p>The same notes revealed that MicroStrategy intends to use the net proceeds from the sale of the notes to buy more Bitcoin and for general corporate purposes.</p>

Bitcoin’s 92-Day Consolidation Could Trigger A Massive Rally

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