Get ready for a potential Bitcoin bombshell: analysts predict a massive move is imminent after 6 months of range-bound trading!
Bitcoin's range-bound stalemate over the past six months has analysts warning of an imminent big move. According to on-chain analyst James Check, the swings are getting larger and more sustained, but the price range is becoming increasingly unstable. Historically, September has been a bearish month for Bitcoin, with more frequent small downsides. However, some analysts suggest that a big move may come this September due to the Federal Reserve interest rate adjustment. Notably, leverage in crypto derivatives is declining, a positive sign for the market. As Bitcoin finished August with a loss of 8.6%, all eyes are on the asset's next move. Will it break out of its range-bound cycle or continue to consolidate? Only time will tell.
