CandleFocus

Is Bitcoin Entering a Long Consolidation Phase?

The CEO of CryptoQuant, Ki Young Ju, has noted that Bitcoin is approaching a potentially lengthy period of consolidation as the halving event approaches. The halving, which occurs every four years, cuts mining rewards in half and typically precedes significant price surges. Ju emphasized the significance of tracking the Coinbase premium, a metric that measures the price difference between Bitcoin on Coinbase Pro and Binance, suggesting that large traders or whales are currently impeding Bitcoin from reaching new highs. It is crucial for market participants to pay attention to whale activities and the overall horizontal trend of Bitcoin for informed investment decisions.

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