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Despite bullish predictions for Bitcoin to reach new all-time highs by June, analysts from 10x Research caution that short-term indicators signal a potential market top and an extended period of sideways movement.

Bitcoin Price May Be Entering a Consolidation Phase

According to 10x Research Head of Research Markus Thielen, Bitcoin’s recent momentum suggests the cryptocurrency is no longer a “parabolic long-only bet” but is instead entering a more mature phase of market behavior. In an April 14 market update, Thielen noted that on-chain and technical indicators reflect bearish or neutral sentiment, rather than early bull market characteristics