Bitcoin Faces Record Consolidation: 14 Days Left to Spark a Bull Market in 2024

In a recent update shared by CryptoQuant CEO Ki Young Ju on October 11, it has been noted that the cryptocurrency market is at a critical junction, having experienced 285 days of consolidation in 2024. The data highlights an emerging concern: if Bitcoin does not initiate a bull market within the next 14 days, it will mark the longest period of price stagnation during a halving year. This prolonged phase of low volatility is prompting discussions among traders and investors, as historical trends suggest that such extended consolidation could be indicative of either potential accumulation or a lack of bullish momentum. Market participants are urged to closely monitor Bitcoin’s performance in the coming days, as its price action may significantly influence broader industry dynamics and investor sentiment.