Bitcoin’s most recent halving is behind us, yet price action remains in a tug-of-war between bulls and bears. After the initial hype pushed BTC beyond key resistance, the market is now pausing. Traders are asking: is this consolidation before a breakout, or the start of a major pullback?
On-chain metrics suggest accumulation continues. Wallets holding over 1,000 BTC have risen since June, a classic signal of institutional interest. Meanwhile, miner selling has slowed as the network adjusts to post-halving economics.
However, macroeconomic headwinds persist. The US Federal Reserve remains cautious, with rate cuts pushed further into the future. CPI and unemployment reports are now critical to determining whether BTC can resume its climb.
Technically, $BTC must hold above the $60,000–$62,000 zone to confirm bullish momentum. A weekly close above $66,000 would likely trigger FOMO buying. Otherwise, price could revisit $55,000 before bouncing.
In summary, the halving effect isn’t over—it’s evolving. Accumulation continues, and BTC is still favored to break new highs this cycle. The timing, though, depends on macro clarity and investor conviction.