Bitcoin Enters Consolidation Phase After Hitting New High — Calm Before the Storm?
After a sharp rally in July, when Bitcoin surged past $123,000, the market has gone eerily quiet. But for how long?
According to CryptoQuant, the crypto flagship has entered a short-term consolidation phase. The Bull Score index, which reflects the strength of the bullish trend, has dropped from 80 to 60. Still positive — but the momentum is fading.
“We’re seeing a ‘bullish pause’ — the market is taking a breather. But if the decline continues, the index could fall below 40. That would mark the first bearish signal since April 2023,” analysts warn.
In other words, we’re walking a fine line: either a fresh wave of growth or the first signs of a long-awaited correction.
Julio Moreno, Head of Research at CryptoQuant, points to a potential catalyst — a Fed rate cut in September. And if that happens, investors might witness a second wind for Bitcoin and the entire crypto market.
The scenario is simple: cheap money returns — and big capital resumes its hunt for high-yield assets. And like it or not, Bitcoin remains the top candidate.
The price is holding steady, but the infrastructure is working, and the market is waiting. Perhaps this silence shouldn’t be mistaken for weakness — sometimes it’s just the calm before the storm.
