Hi

Bitcoin, after reaching an all-time high of $109,000 in January, is now consolidating at $97,000. Despite potential for a technical correction, the ongoing halving cycle suggests further upside. Historically, post-halving price surges have been significant, with the 2020 halving leading to a 686% increase. The current cycle, post-April 2024 halving, has seen only a 63% rise, indicating more growth potential.

MicroStrategy's recent acquisition of 7,633 bitcoins, bringing its total to 478,740, reflects strong institutional demand. This pro-cyclical buying pattern suggests a positive price trajectory for bitcoin.

Looking ahead, while a short-term correction is possible, historical Q4 trends and macroeconomic factors could support elevated bitcoin prices by year-end.