Bitcoin has consolidated between the $38K and $45K zone for the past two months, as indecisiveness continuously rocks the market.
On-chain analyst Will Clemente acknowledged:
“BTC has been in this consolidation pattern for 2 months.”
Source: TradingView
Market analyst Lex Moskovski shared similar sentiments, describing the current BTC market as “the mother of all consolidations.” He noted:
“The mother of all consolidations. On-chain volume at $39k is the largest in the entire history of Bitcoin. Record 775k BTC changed hands at around $38.7.”
Source: Glassnode
Moskovski added that Bitcoin had moved around $39,000 more than any other price in its 13-year journey based on the high on-chain volume recorded.
The leading cryptocurrency was down by 1.5% in the last 24 hours to hit $38,419 during intraday trading.
Bitcoin addresses continue soaring the heights
Despite the consolidation happening in the market, BTC addresses continue going through the roof. Data…