#加密市场盘整

Here are some specific examples of consolidation periods in crypto market cycles:

Historical consolidation periods of Bitcoin

1. Consolidation after the first halving:

• Time: After the first Bitcoin reward halving on November 28, 2012.

• Consolidation period: About 1 year.

• **Price at the end of the sideways movement**: About $100.

• **Subsequent bull market high**: About $1,100 (November 2013).

2. Consolidation after the second halving:

• Time: After the second Bitcoin reward halving on July 9, 2016.

• Consolidation period: About 0.5~1.5 years.

• **Price at the end of the sideways movement**: About $1,000.

• **Subsequent bull market high**: About $19,700 (December 2017).

3. Consolidation after the third halving:

• Time: After the third Bitcoin reward halving on May 11, 2020.

• Consolidation period: About 6 months.

• **Price at the end of the sideways movement**: About $10,000.

• **Subsequent bull market high**: About $69,000 (November 2021).

4. Consolidation after the fourth halving:

• Time: After the fourth Bitcoin reward halving on April 19, 2024.

• **Consolidation situation**: Since the approval and launch of the Bitcoin and Ethereum spot ETFs in January 2024, the price was $64,000, and then entered a sideways movement. As of June 2024, Bitcoin has reached its longest consolidation period of 92 days, with lower trading volume and volatility than usual, and the price traded in a narrow range of 26%.

• Analysts predict: The consolidation period may extend to at least September or even October. Long-term stability could set the stage for a "substantial rise" in the asset. Once the price breaks out of this consolidation range, a massive upward rally will be witnessed.

Ethereum Consolidation

After the launch of the Ethereum ETF, the crypto market also entered a consolidation mode. Traders will focus on some economic data, hoping that these positive news will prompt relevant institutions to cut interest rates, which will bring positive market conditions.

These examples of consolidation periods show that the crypto market often enters a period of consolidation after experiencing major events (such as halving, ETF launch, etc.). The length of the consolidation period and the subsequent market trend depend on the combined effect of multiple factors, including market sentiment, macroeconomic environment, policy supervision, etc.