Bitcoin eyes ‘healthy pause’ around $106K before price picks up steam
Bitcoin’s consolidation will give “the market time to digest recent gains” before entering a new upward trend, Derive founder Nick Forster tells Cointelegraph.
Bitcoin could enter a period of sideways movement following a court decision on US President Donald Trump’s tariffs, but that’s not necessarily a bearish signal, according to a crypto analyst.
“While the recent surge to over $111,000 was notable, the current price action suggests a phase of consolidation rather than an imminent breakout,” onchain options protocol Derive founder Nick Forster told Cointelegraph.
Forster argued that a consolidation phase could be “a healthy pause” before another “significant upward movement.” He said that this pause will give “the market time to digest recent gains and gear up for the next phase.”
