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Navigating the Pullback: Bitcoin’s Strategic Retreat<\/h2>\n\n\n\n

As Bitcoin prices have retreated 18% from their peak, analysts now foresee a lengthy re-accumulation phase before the cryptocurrency potentially climbs again. This recent downturn saw Bitcoin drop from a high of $73,737 to a low of $60,000. Such pullbacks aren’t unusual in the crypto world, particularly in anticipation of significant events like the upcoming halving. Historically, these periods have served as preludes to bullish market cycles, suggesting strategic positioning by investors amid short-term volatility.<\/p>\n\n\n\n

A Historical Perspective on Market Cycles<\/h2>\n\n\n\n

Re-accumulation phases are not a new phenomenon in Bitcoin\u2019s lifecycle. Similar patterns were observed both in 2016 and 2020, where Bitcoin experienced comparable declines before stabilizing. These phases typically last several months and are characterized by sideways market movement. They often end with a gradual uptick in market activity and price increases. Analyst Rekt Capital notes, these periods can be frustrating for investors due to the lack of immediate gains, leading to decreased sentiment and a potential increase in bear market discussions. This is mirrored by on-chain data suggesting a downturn in social sentiment regarding Bitcoin\u2019s immediate future.<\/p>\n\n\n\n

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#BTC<\/a>

3 Phases of The Bitcoin Halving

1. Final Pre-Halving Retrace

Bitcoin has produced two -18% retraces prior to the Halving in the span of just over a month

In mid-March, BTC pulled back -18% before recovering to $70000 and now in mid-April BTC has retraced -18% again

This\u2026
pic.twitter.com\/2BKBQXpPOV<\/a><\/p>— Rekt Capital (@rektcapital) April 17, 2024<\/a><\/blockquote>