Bitcoin suffered a steep price decline earlier this month, falling to the $82,000 level for the first time since April 2025. BTC has since made a quick recovery, reclaiming the $91,000 mark. However, BTC seems to be consolidating around the $91,000 price level. According to CoinGecko’s Bitcoin dataBTC is up 10.4% over the past week, but is glowing red in the other timeframes. The native crypto is down 0.3% in the last 24 hours, 5.8% in the 14-day charts, 19.3% month-to-date and 3.7% since the end of November 2024. Let’s discuss whether the crypto market will enter a consolidation phase, face a correction or continue its rally.
With Bitcoin Consolidation, Where Will the Crypto Market Go Next?
The crypto market experienced a rally earlier this week after the chances of another interest rate cut in December resurfaced. Not only crypto, but the stock market also saw significant inflows. Bitcoin’s (BTC) rally seems to have slowed down after its recent rally from the $82,000 price level. It is possible that investors are enjoying the Thanksgiving holiday and ignoring the market for now.
Read also: Tom Lee: Bitcoin’s 10 Biggest Days of the Year Haven’t Even Started Yet
According to CoinCodex analysts, Bitcoin (BTC) will gradually rally over the next few weeksand will reach the $97,653 mark on December 18th. The platform anticipates that the asset will then face a correction back to roughly current levels.
