Bitcoin's recent price movements indicate a shift in market dynamics, as noted by Markus Thielen from 10x Research. He suggests that Bitcoin is entering a long consolidation phase with a bearish tilt, challenging the optimistic predictions of some in the crypto community. Despite a rally over the past year resulting in a 32.80% increase, Thielen points to on-chain data suggesting a bear market environment. The Bitcoin stochastic oscillator indicates typical market top patterns rather than the start of a bull run. Thielen observes that the current market demands a more sophisticated investment approach, moving away from a speculative mindset. He anticipates Bitcoin will trade in a broad range of $73,000 to $94,000, with potential for consolidation similar to 2024. Predicted catalysts for price increases are by June, with some analysts expecting a new all-time high before the month ends. However, Thielen remains cautious and highlights the disconnect between short and long-term market indicators, which complicates the investment outlook.

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