ChainCatcher news, crypto analyst Willy Woo posted on the X platform that if BTC does not show a rebound in the next two and a half days, it will form a bearish divergence on the weekly chart, and the market may then enter a period of low volatility and stagnation.

ChainCatcher news, according to Cointelegraph, the chief researcher of the cryptocurrency research institution 10x Research, Markus Thielen, stated that Bitcoin may repeat its price trend in 2024, entering a long-term consolidation phase after reaching an all-time high at the beginning of the year.Thielen pointed out that the current Bitcoin chart is forming a "high-level tightening flag," which, although typically a bullish continuation pattern, currently shows signs of weakness, indicating "market indecision" rather than a clear bullish consolidation. Meanwhile, the spot Bitcoin exchange-traded fund (ETF) market has not shown a "buying the dip" mentality.Thielen believes there is a lack of evidence to support a strong price recovery for Bitcoin in the short term.

ChainCatcher news, according to Blockworks, YouHodler's market director Ruslan Lienkha pointed out that last year's consolidation phase for Bitcoin lasted for several months (even up to half a year) before the next wave of increase. However, he believes the current market environment is more complex."The pessimism in the U.S. stock market is prevailing, and concerns about a potential economic recession in the U.S. are also intensifying," Lienkha said. "Given these factors, the current consolidation period may evolve into a mid-term bear market."But Lienkha noted, "Although Bitcoin may potentially evolve into a safe-haven asset in the future, investors still view it as a high-risk asset at present, often reacting more dramatically to changes in market sentiment than traditional financial markets."

ChainCatcher news, Real Vision CEO Raoul Pal predicts that the crypto market is entering the "Banana Singularity" phase. He divides the current market into three stages: the breakout in November 2024, the current consolidation period, and the upcoming altcoin season.Pal stated that as Bitcoin's dominance (currently at 58%) declines, the market will experience a comprehensive bullish trend, with core winners creating higher peaks. He also noted that the current market trend is similar to the 2016/2017 cycle, and the consolidation period is expected to end soon.

ChainCatcher news, Matrixport released a daily chart stating that currently, Bitcoin is digesting the surge of the past few weeks. During this period, the open interest in futures skyrocketed from $18 billion in October to $29 billion, an increase of 50%. Meanwhile, the funding rate in the Bitcoin market surged from over 10% to a peak of over 80%. Historical data shows that after such rapid positioning, there is usually a brief consolidation period, after which the bull market may continue.This pattern may occur again, especially during the quieter trading volume of the Christmas holiday. Traders are now looking towards the new year, anticipating whether new capital inflows will drive prices up and reignite the upward momentum.

ChainCatcher message, Matrixport posted on X that the recent greed and fear index has surpassed 90%, indicating that Bitcoin may experience a period of consolidation before resuming its upward trend.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on social media that 285 days have passed in 2024, and if Bitcoin cannot start a bull market within 14 days, it will set the record for the longest consolidation period since the halving.

ChainCatcher news, Charles Edwards, founder of the cryptocurrency hedge fund Capriole Investment, stated on X that Bitcoin is in a "boringly dead" phase, and this consolidation period may last from one to six months, during which Bitcoin will fluctuate within a low volatility range until market participants lose patience. Before the consolidation ends, market sentiment will be at its most negative.Charles Edwards said: "When you are sufficiently bored with the sideways movement, common symptoms include believing that the halving has already been priced in, the bull market is over, and selling stocks at the bottom. Your symptoms and the bears will peak before a big surge."