Bitcoin has recently surpassed the $64,000 mark, but faced quick resistance as bears pulled the price back down. This ongoing consolidation could be part of a post-halving accumulation phase, which historically breaks out around 170 days post-halving.
Such rallies are known to peak approximately 480 days after the halving event, suggesting that the main rally could still be on the horizon. Analysts are divided, debating whether Bitcoin will break $70,000 this weekend or form another lower high instead.
If Bitcoin manages to surpass the $70,000 mark, it could signal strong bullish momentum. However, if it fails to do so, it may indicate potential weakness and the formation of another lower high.
