Bitcoin has been trading sideways since March, but analysts are predicting a long-awaited breakout. 📈 RamenPanda analyst noted that the price has barely fallen from its previous high, despite six months of consolidation.

Economist Alex Krueger added that sentiment among crypto traders has not been this low since 2022. However, Bitcoin is trading at the same level as six months ago.

Capriole Fund founder Charles Edwards and Income Sharks analyst predict a major move higher in the fourth quarter. Bitcoin has returned $61,000, but has fallen to $60,500.

The US Federal Reserve is expected to cut interest rates, which could be favorable for cryptocurrencies. Analysts suggest that a more significant rate cut would be better for high-risk assets.