CryptoQuant called Bitcoin's phase "quiet consolidation".

CryptoQuant analysts stated that Bitcoin is in a phase of “quiet consolidation,” despite the recent price drop to $98,000 and rising concerns about a potential “double top” pattern.

According to experts, after the decline, the price has already returned to over $100,000, and on-chain data does not indicate significant overheating signals in the market.

The key indicator—the 30-day moving average of the binary CDD, which reflects the activity of long-term holders—remains around 0.6, below the critical level of 0.8, which usually precedes deep corrections.

“This time, the indicator peaked at around 0.6 and began to decline, indicating a lack of overheating. Long-term investors are in no rush to take profits,” — noted CryptoQuant.

According to analysts, the current situation is not a signal for the end of the bull market. On the contrary, historically strong breakthroughs occur when the overall sentiment is muted and interest in the market declines. This may suggest that the next wave of growth is just getting ready.

It is also expected that Bitcoin may go through a further consolidation phase — either in time or in price — before a new upward impulse.

Let us remind you that recently analysts from the platform noted an increase in the purchasing activity of US investors in the cryptocurrency market, which signals a bullish cycle.

However, interest in altcoins is critically weak, as indicated by the relevant metric.