Bitcoin Faces Prolonged Consolidation Phase
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Recent analysis from Glassnode indicates Bitcoin's onchain structure remains fragile, suggesting the cryptocurrency may enter an extended period of price consolidation. This assessment points to underlying network weakness despite recent price movements, with key metrics showing insufficient fundamental support for sustained upward momentum.
Market participants should prepare for potential sideways trading as Bitcoin works to establish stronger technical foundations. This consolidation phase, while potentially frustrating for short-term traders, could ultimately create healthier conditions for the next significant market move by allowing time for network strength to rebuild.
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