Since rebounding from the $60k region in early February, Bitcoin has entered a sideways consolidation phase. As outlined in Week 06 – Structural Weakness, this fragile range reflects a temporary equilibrium between seller exhaustion and localized support from long-term holders who accumulated within the same price band during H1 2024. From a broader cyclical perspective, the 7-day moving average drawdown from the ATH currently sits at 47.3%, comparable to the early May 2022 range-bound phase that preceded further downside expansion. Historical analogues suggest that, at similar drawdown depths, time typically acts as ... (full story)