Historically, longer consolidation opens a path for greater expansion as we see Bitcoin price extend towards 50K, which is also a psychological price level for Bitcoin to break
Bitcoin’s recovery run in the last three weeks is a reiteration of the confidence that investors hold in the asset after a 55% dip from its peak in May 2021. We believe that Bitcoin went through a consolidation phase and is now ready to continue its run towards its prior all-time high
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