Bitcoin suffered a steep price dip earlier this month, falling to the $82,000 level for the first time since April 2025. BTC has since made a quick recovery, reclaiming the $91,000 mark. However, BTC seems to be consolidating around the $91,000 price level. According to CoinGecko’s Bitcoin data, BTC has rallied 10.4% over the last week, but is glowing red in the other time frames. The original crypto is down 0.3% in the last 24 hours, 5.8% in the 14-day charts, 19.3% over the previous month, and 3.7% since late November 2024. Let’s discuss if the crypto market will enter a consolidation phase, face a correction, or continue its rally.
With Bitcoin Consolidating, Where Will The Crypto Market Go Next?
The crypto market experienced a surge earlier this week after the chances of another interest rate cut in December were reignited. Not just crypto, but the stock market also saw substantial inflows. Bitcoin’s (BTC) rally seems to have slowed down after its recent ascent from the $82,000 price level. It is possible that investors are enjoying the Thanksgiving holiday, ignoring the market for the time being.
The crypto market may continue its consolidation phase over the coming weekend, before making any movements on Monday. December may bring fresh volatility, and Bitcoin (BTC) could see some price movements. If investor sentiment remains bullish, BTC could see its rally continue. If the Federal Reserve gives some confirmation on another rate cut, we could enter another bullish phase. However, if the Fed decides to keep rates the same, the crypto market may enter a prolonged consolidation phase, if not face a correction.
Also Read: Tom Lee: Bitcoin’s 10 Biggest Days of the Year Haven’t Even Begun Yet
According to CoinCodex analysts, Bitcoin (BTC) will gradually rally over the next few weeks, hitting the $97,653 mark on Dec. 18. The platform anticipates the asset to then face a correction back to around current levels.
