10x Research: Bitcoin 'very likely' to consolidate for another 8 months

According to Cointelegraph, Markus Thielen, Chief Cryptocurrency Researcher at 10x Research, stated that Bitcoin is "very likely" to repeat the trend of 2024 and enter a prolonged period of consolidation after reaching a historic high. Last March, it reached a historic high of $73679 and then entered a consolidation phase, fluctuating around $20000 until Donald Trump was elected as the President of the United States in November. The technical chart of Bitcoin resembles a "high and tight flag", although it is usually a bullish continuation pattern, it also shows signs of weakness. Meanwhile, the spot Bitcoin exchange traded fund (ETF) market has shown no signs of a "buy on dips" mentality.