Analysis: Traders predict Bitcoin will rise above $96,000 after consolidation phase

Odaily Planet Daily News: Although Bitcoin's recent upward momentum has slowed, traders generally believe that the price will break out of the current consolidation range. Several analysts pointed out that there are a large number of sell orders in the area around $96,000 above the spot price, which may trigger a scramble for liquidity. Trader Cold Blooded Shiller said that Bitcoin and the S&P 500 index will usher in a critical decision-making moment in the next 24 hours, tending to break upward in price. Cryptocurrency trader and analyst Michaël van de Poppe also believes that Bitcoin is building momentum for the next round of gains. Data shows that as of the end of April, Bitcoin's monthly increase was 15%, the best April performance since 2020. Analyst Rekt Capital pointed out that if the monthly line closes in the range of $93,300 to $96,500, it will consolidate Bitcoin's high trend. (Cointelegraph)