Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Lyft taps Solana’s bee cards for real -time, crowdsourced mapping upgrade

2025-05-16

Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

2025-05-16

How long does it take before XRP versus sec -case actually ends? Deaton breaks it down

2025-05-16
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Lyft taps Solana’s bee cards for real -time, crowdsourced mapping upgrade

    2025-05-16

    WalletConnect Betting large on AI and mobile acceptance to the next phase of the Growt Protocol.

    2025-05-15

    Socios.com works together with Ninjas in Pajamas to redefine the involvement of fans with web3

    2025-05-15

    Ripple Board Member says that blockchain banks will not be able to do

    2025-05-15

    The leading cryptocurrency Exchange Upbit from Zuid -Korea releases a new list -announcement free! Here is the newest stated Altcoin

    2025-05-15
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Coinbase confirms that the SEC Sun from Biden era on ‘verified users’ is still ongoing

    2025-05-15

    UK HMRC Mandates Crypto -Beursen must share user data from 2026

    2025-05-15

    CBOE requests to state the first American spot tron ​​ETF that offer racks rewards

    2025-05-15

    SEC chairman Paul Atkins says that a rational regulatory framework that needs us to become ‘crypto capital of the planet’.

    2025-05-15

    Republican senators call on Treasury to illuminate crypto tax laws to play with foreign companies at the level of ‘level’

    2025-05-14
  • Analysis

    Ethereum Price Het Strong – Signs point to a new upward outbreak

    2025-05-16

    New decentralized gaming -token skyrockets after binance list

    2025-05-15

    XRP goes to the key range against Bitcoin as 3 important goals appear

    2025-05-15

    Robinhood Rival Etoro goes live on Nasdaq after collecting $ 620,000,000 in IPO

    2025-05-15

    XRP makes double rejection – here is where it might go

    2025-05-15
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»BTC is down 10% but is in a declining bullish consolidation
Bitcoin

BTC is down 10% but is in a declining bullish consolidation

2024-09-02No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • BTC is down 10% in the last 30 days, but still found itself in a declining bullish consolidation.
  • One analyst looked at a new ATH based on previous consolidation cycles.

Bitcoin [BTC]the largest cryptocurrency, has suffered a sharp decline in recent weeks. At the time of writing, the king coin was trading as high as $57736, having dropped 9.58% in the past week.

In the month of August, the crypto experienced an extremely volatile market. During this period, the crypto fell to a local low of $49,000 before staging a moderate recovery.

Despite the recent decline, BTC is still 16.6% above the recent local low, consolidating in a down yet bullish trend. Likewise, it was 59.94% above the yearly low of $38,505 recorded earlier this year.

These indicators and market behavior have led analysts to predict a repeat of a bull run 2.0 to a new all-time high. For example, popular crypto analysts Mags sees a new all-time high, citing historical cycles.

Market sentiment

In his analysis states Stockroom tightened the previous two cycles with monthly consolidation, resulting in a new bull run.

Based on the cycle analogy, after BTC reaches a bottom and then a local top, a period of consolidation follows, which is later preceded by a strong bull run.

He shared his analysis via X (formerly Twitter) and noted that:

“Bitcoin – Bull run 2.0 incoming. The current monthly consolidation for BTC looks a lot like the previous cycle, when the price rose all the way to its all-time high.”

Source:

This argument points to the previous bull run, which was the result of months of consolidation.

See also  Crypto week ahead: BTC, ETH and memecoins show signs of recovery

In particular, consolidation plays a crucial role in stabilizing markets. This period allows the market to absorb the recent price action, preventing extreme volatility.

It also helps reduce speculative pressure as short-term traders tend to close their positions.

With the advent of long-term traders, investors begin to accumulate, gradually increasing demand, resulting in an increase in purchasing activity.

What Bitcoin’s Charts Suggest

Mags believed that a new bull run was imminent for the king coin. The question is: what do other indicators show?

Source: CryptoQuant

For starters, Bitcoin’s long-term holder SOPR has averaged around one over the past seven days. When the profit rate for long-term holders remains around one, it suggests that crypto is being sold at cost.

This indicates market consolidation, with long-term holders experiencing neither profit nor loss. Such a scenario leaves long-term owners waiting for profitable sales in the future.

Source: CryptoQuant

Furthermore, the fund flow ratio has been consistently below 1 for the past seven days. This means that more BTC has been withdrawn from the exchanges, rather than being deposited.

This is a bullish signal, indicating that investors are withdrawing their crypto from exchanges for long-term holdings, reducing the supply available for immediate sale.

Such moves reduce selling pressure and increase demand, which in turn helps in trend reversal.

Source: Cryptoquant

Finally, inflows on the BTC exchanges have declined over the past three days, from a weekly high of 37899.7 to a low of 6869. Such a decline in inflows on the exchanges indicates holding behavior as investors expect higher prices.

This market sentiment reduces selling activity, which is bullish as there are fewer coins readily available for trading.

See also  Bitcoin vs Ethereum: Can ETH Outperform BTC in 2025?

Read Bitcoin’s [BTC] Price forecast 2024–2025


Although BTC has fallen over the past 30 days, it is a downtrend, but a bullish consolidation. As market indecisiveness increases, investors choose to hold, reducing supply.

Such accumulation behavior leads to reduced supply and an increase in demand, allowing bulls to retake the markets. This will lead to BTC breaking above the $61,159 resistance level, possibly heading towards $70,000.

Next: Solana Eyes $120: Will THIS Be SOL’s Price Catalyst?

Source link

BTC Bullish Consolidation declining
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Binance contains 302% BTC reserves for 30 consecutive months – Snapshot reveals

2025-05-15

Will Bitcoin price bullish or bearish? Crypto analyst reveals critical levels to watch

2025-05-15

Peter Schiff admits that ‘Bitcoin has a use case’ – but it is not what you expect

2025-05-15

The Bitcoin Reserve ambitions of Ukraine – should the US take notes?

2025-05-15
Add A Comment

Comments are closed.

Top Posts

Superstate integrates Chainlink to increase transparency of the USTB Tokenized Fund

2024-08-13

Stablecoins are back on exchanges, what it means for you

2023-06-23

NBTC: THORChain Protocol Revenues Surge 100%, Why Is RUNE Struggling?

2024-08-09
Editors Picks

Mastercard chief digital officer believes tokenization needs TradFi rules to go mainstream

2023-07-03

Binance Academy and University of Oulu introduce ‘Blockchain for Business Sustainability’ course

2025-03-27

The New Rhythm of Second Life: The Motown Collaboration

2023-06-20

XRP Records $1 Million Inflow as Investors Show Confidence

2023-06-20

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Lyft taps Solana’s bee cards for real -time, crowdsourced mapping upgrade

Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

How long does it take before XRP versus sec -case actually ends? Deaton breaks it down

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,928.491.00%
  • ethereumEthereum(ETH)$2,570.23-0.75%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.41-4.78%
  • binancecoinBNB(BNB)$656.661.01%
  • solanaSolana(SOL)$172.03-1.67%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.224518-4.15%
  • cardanoCardano(ADA)$0.78-2.28%
  • tronTRON(TRX)$0.2764981.20%
  • suiSui(SUI)$3.880.36%
  • chainlinkChainlink(LINK)$16.21-3.49%
  • avalanche-2Avalanche(AVAX)$23.81-3.14%
  • stellarStellar(XLM)$0.294912-3.07%
  • hyperliquidHyperliquid(HYPE)$26.566.26%
  • shiba-inuShiba Inu(SHIB)$0.000015-3.27%
  • hedera-hashgraphHedera(HBAR)$0.199415-2.58%
  • unus-sed-leoUNUS SED LEO(LEO)$8.85-0.46%
  • bitcoin-cashBitcoin Cash(BCH)$399.78-0.05%
  • the-open-networkToncoin(TON)$3.09-4.83%
  • polkadotPolkadot(DOT)$4.84-1.72%
  • litecoinLitecoin(LTC)$100.590.42%
  • moneroMonero(XMR)$341.76-0.99%
  • piPi(PI)$0.85-3.28%
  • bitget-tokenBitget Token(BGB)$5.056.69%
  • pepePepe(PEPE)$0.000013-2.71%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$6.29-5.18%
  • bittensorBittensor(TAO)$436.97-1.57%
  • nearNEAR Protocol(NEAR)$2.92-3.36%
  • aaveAave(AAVE)$229.220.29%
  • aptosAptos(APT)$5.36-7.13%
  • okbOKB(OKB)$53.67-1.40%
  • ondo-financeOndo(ONDO)$0.99-1.87%
  • kaspaKaspa(KAS)$0.118164-1.51%
  • internet-computerInternet Computer(ICP)$5.48-1.88%
  • ethereum-classicEthereum Classic(ETC)$19.13-3.06%
  • gatechain-tokenGateToken(GT)$21.830.46%
  • crypto-com-chainCronos(CRO)$0.100772-0.28%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.89-2.69%
  • render-tokenRender(RENDER)$4.87-3.12%
  • vechainVeChain(VET)$0.029283-2.32%
  • mantleMantle(MNT)$0.75-3.62%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.240261-2.66%
  • ethenaEthena(ENA)$0.375890-3.59%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • filecoinFilecoin(FIL)$2.97-2.00%
  • algorandAlgorand(ALGO)$0.227242-2.46%
  • arbitrumArbitrum(ARB)$0.404452-4.93%
  • bitcoinBitcoin(BTC)$103,928.491.00%
  • ethereumEthereum(ETH)$2,570.23-0.75%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.41-4.78%
  • binancecoinBNB(BNB)$656.661.01%
  • solanaSolana(SOL)$172.03-1.67%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.224518-4.15%
  • cardanoCardano(ADA)$0.78-2.28%
  • tronTRON(TRX)$0.2764981.20%
  • suiSui(SUI)$3.880.36%
  • chainlinkChainlink(LINK)$16.21-3.49%
  • avalanche-2Avalanche(AVAX)$23.81-3.14%
  • stellarStellar(XLM)$0.294912-3.07%
  • hyperliquidHyperliquid(HYPE)$26.566.26%
  • shiba-inuShiba Inu(SHIB)$0.000015-3.27%
  • hedera-hashgraphHedera(HBAR)$0.199415-2.58%
  • unus-sed-leoUNUS SED LEO(LEO)$8.85-0.46%
  • bitcoin-cashBitcoin Cash(BCH)$399.78-0.05%
  • the-open-networkToncoin(TON)$3.09-4.83%
  • polkadotPolkadot(DOT)$4.84-1.72%
  • litecoinLitecoin(LTC)$100.590.42%
  • moneroMonero(XMR)$341.76-0.99%
  • piPi(PI)$0.85-3.28%
  • bitget-tokenBitget Token(BGB)$5.056.69%
  • pepePepe(PEPE)$0.000013-2.71%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$6.29-5.18%
  • bittensorBittensor(TAO)$436.97-1.57%
  • nearNEAR Protocol(NEAR)$2.92-3.36%
  • aaveAave(AAVE)$229.220.29%
  • aptosAptos(APT)$5.36-7.13%
  • okbOKB(OKB)$53.67-1.40%
  • ondo-financeOndo(ONDO)$0.99-1.87%
  • kaspaKaspa(KAS)$0.118164-1.51%
  • internet-computerInternet Computer(ICP)$5.48-1.88%
  • ethereum-classicEthereum Classic(ETC)$19.13-3.06%
  • gatechain-tokenGateToken(GT)$21.830.46%
  • crypto-com-chainCronos(CRO)$0.100772-0.28%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.89-2.69%
  • render-tokenRender(RENDER)$4.87-3.12%
  • vechainVeChain(VET)$0.029283-2.32%
  • mantleMantle(MNT)$0.75-3.62%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.240261-2.66%
  • ethenaEthena(ENA)$0.375890-3.59%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • filecoinFilecoin(FIL)$2.97-2.00%
  • algorandAlgorand(ALGO)$0.227242-2.46%
  • arbitrumArbitrum(ARB)$0.404452-4.93%