According to a report by Matrixport, Bitcoin’s price surged over +40% within 30 days, but such rapid rallies are historically unsustainable, with a period of consolidation typically following. After this 40% rally, Bitcoin peaked, and prices are now approximately -3% lower than they were a month ago, in line with patterns seen in previous cycles.
In bull markets, there is often an ideal re-entry range where prices dip between -10% and -20% from their recent peak. With Bitcoin’s recent high at $108,000, Matrixport suggests that a consolidation within the $90,000 to $95,000 range could represent this "sweet spot." If Bitcoin’s price remains above the -20% threshold, this could set the stage for the next upward move in 2025.
