{"id":153057,"date":"2025-03-15T19:00:33","date_gmt":"2025-03-15T17:00:33","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=153057"},"modified":"2025-03-15T14:05:50","modified_gmt":"2025-03-15T12:05:50","slug":"bitcoins-market-uncertainty-will-it-repeat-2024s-price-consolidation","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoins-market-uncertainty-will-it-repeat-2024s-price-consolidation\/","title":{"rendered":"Bitcoin&#8217;s Market Uncertainty: Will It Repeat 2024&#8217;s Price Consolidation?"},"content":{"rendered":"<p>Thielen <strong><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-consolidation-phase-repeat-2024-price-action-possible-crypto-analyst\">acknowledged<\/a><\/strong> the likelihood of <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong> undergoing a similar price pattern, where after peaking in early 2024 at nearly $74,000, the asset saw a period of stabilization before a shift in market dynamics in November.<\/p>\n<p>Thielen&#8217;s analysis also pointed to Bitcoin\u2019s current chart formation, which resembles a \u201cHigh and Tight Flag\u201d pattern, traditionally seen as a bullish continuation.<\/p>\n<p>However, the chart shows signs of weakness due to multiple flags instead of a single one, signaling hesitation in the market and diminishing the pattern&#8217;s usual bullish indication. This uncertainty is further underscored by Bitcoin\u2019s failure to inspire a &#8220;buy-the-dip&#8221; mentality among investors, with many seemingly uninterested in seizing recent price declines.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-could-reach-trillions-in-market-cap-according-to-strike-ceo\/\" title=\"Bitcoin Could Reach Trillions in Market Cap, According to Strike CEO\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-6-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Bitcoin Could Reach Trillions in Market Cap, According to Strike CEO<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Despite Bitcoin&#8217;s drop to below $90,000 in early March, resulting in ETF outflows of approximately $1.66 billion, the outlook remains cautious. Thielen expressed doubts over whether the uptrend will resume soon, suggesting it might be prudent for some traders to close short positions, though there&#8217;s insufficient evidence for a strong recovery.<\/p>\n<p>The market&#8217;s current state is marked by uncertainty, particularly as Bitcoin&#8217;s price hovers around $84,290\u2014significantly lower than its peak in January. Meanwhile, analysts like Iliya Kalchev of Nexo suggest that the low $70,000 range could act as a solid foundation for a more sustainable rebound.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The possibility that Bitcoin may repeat its 2024 market behavior, where it consolidated after hitting a record price, is still on the table, according to Markus Thielen, 10x Research&#8217;s chief crypto analyst.<\/p>\n","protected":false},"author":9,"featured_media":32852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-153057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin&#039;s Market Uncertainty: Will It 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