BTC momentum slowing, but signals consolidation, not collapse, says Swissblock

Bitcoin's price momentum has slowed from its peak, but the current phase signals consolidation rather than a market collapse, according to crypto data analytics firm Swissblock. The firm noted that its price momentum indicator, which ranges from -1 to 1, has decreased from a high of 0.9 in mid-May to around 0.7. Swissblock stated that as long as the indicator does not fall below -0.5, the market should be viewed as consolidating. "A similar situation occurred in June and July of last year when momentum also declined from a peak but remained above the -0.5 threshold," the firm explained. "Following that period of consolidation, the price eventually rallied to a new high. The same logic applies to the current market conditions."