'Very possible' Bitcoin consolidates for 8 months again: 10x Research

Quick Summary:

10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent much of the year consolidating after hitting all-time highs early on.“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024, where it reached an all-time high of $73,679 in March before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.

Meanwhile, he also pointed out that the spot Bitcoin exchange-traded fund (ETF) market shows no signs of a “buy-the-dip” mentality.“Little incentive” to take advantage of Bitcoin’s recent price dip“This aligns with our view that most ETF flows came from arbitrage-driven hedge funds.

He explained in his most recent market report on March 15 that Bitcoin’s current chart resembles a “High and Tight Flag,” which, despite typically being a bullish continuation pattern, shows signs of weakness.

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Author / Journalist: Cointelegraph by Ciaran Lyons

Category: Crypto

Markets: United States

Topics: All-time Market Crypto Shows Price Bitcoin’s Thielen March Bitcoin Chart Cointelegraph

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-15 @ 06:35:20 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 494 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27019047

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