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> 
<div class="cryptoboxes " data-realtime="on">
 <div class="coinmc-chart coinmc-trigger">
  <div class="cmc-row middle-md between-md">
   <div class="cmc-md-7 cmc-sm-12 cmc-xs-12">
    <ul class="coinmc-filter coinmc-chart-period">
     <li>
      <div class="coinmc-filter-label">
       Zoom
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="hour">
       Hour
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="day">
       Day
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="week">
       Week
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-period="month">
       Month
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="year">
       Year
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="all">
       All Time
      </div></li>
    </ul>
   </div>
   <div class="cmc-md-5 cmc-sm-12 cmc-xs-12 end-md start-sm start-xs">
    <ul class="coinmc-filter coinmc-chart-type">
     <li>
      <div class="coinmc-filter-label">
       Type
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-type="chart">
       <i class="fas fa-chart-line"></i> Line Chart
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-type="candlestick">
       <i class="fas fa-sliders-h"></i> Candlestick
      </div></li>
    </ul>
   </div>
  </div>
  <div class="cmc-row">
   <div class="cmc-md-12">
    <div class="chart-wrapper" data-config="{&quot;type&quot;:&quot;chart&quot;,&quot;coin&quot;:&quot;bitcoin&quot;,&quot;symbol&quot;:&quot;BTC&quot;,&quot;currency&quot;:&quot;USD&quot;,&quot;period&quot;:&quot;month&quot;,&quot;theme&quot;:&quot;light&quot;,&quot;smooth&quot;:true,&quot;areaColor&quot;:&quot;rgb(37,179,98, 0.8)&quot;,&quot;font&quot;:&quot;Saira&quot;,&quot;rate&quot;:1}"></div>
   </div>
  </div>
 </div>
</div> 
<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

Table of Contents

crypto.ro global

Other articles published on Jun 13, 2024

Bitcoin price tracks $68K as ‘chicken’ crypto market shrugs off US PPI

$PEPE, $BONK, $ROSE on the Rise: Hottest Presale Coins to Invest in Today

MoonBag Meme Coin Is The New Icon In The Crypto World, Shocking Bonk And Bitbot Holders

Solana Beats Ethereum in Key Performance Metric, Founder Announces

Vitalik Buterin Names 7 Reasons Why Meme Coins Are Good for Ethereum

Toncoin over Ethereum? Why TON could be your best bet in June

Join our free newsletter for daily crypto updates!