Circle is Narrowing for Bitcoin: We Might Get Stuck in These Prices! - Coin Bulletin

According to analysts, if (BTC) date repeats for Bitcoin, the price may remain range-bound and consolidate until positive news arrives.

According to CryptoQuant analyst, the realized price levels for (BTC) are gradually tightening for short-term investors. The analyst notes that the market is consolidating within a certain price range, and investors are struggling to find direction. In particular, the narrowing gap between the 60-day (96.4 thousand dollars) and 200-day (79.8 thousand dollars) moving averages indicates that Bitcoin's price movements are tightening.

The analyst reminds that a similar situation occurred in May 2024. At that time, the decrease in trading volume and the convergence of moving averages caused the price to remain in a narrow range for a long time. Currently, Bitcoin is stuck between $96.4K and $79.8K, and if this range is not broken upwards or downwards, low volatility and sideways movement may continue in the market for some time.

What is needed for the rise?

According to CryptoQuant analyst, Bitcoin needs a strong catalyst to break out of this congestion. The analyst, who points out that the attitude of the Donald Trump administration towards cryptocurrencies could be the biggest potential mover at the moment, says that the crypto summit to be held tomorrow will play a decisive role in the market.

If a crypto-friendly policy message comes from the meeting, it may be possible for Bitcoin to break out of this congestion and rise again. However, a possible uncertainty or negative statement could cause the price to remain stuck in the 79.8k – 96.4k dollar range.