CryptoQuant: Bitcoin may continue to consolidate before halving in 2024.

According to a report from CryptoQuant, a cryptocurrency data analysis platform, the recent price performance of Bitcoin is very similar to past cycles, indicating that the asset "may remain in a consolidation phase until the 2024 halving event", but implying that "prices will rise significantly after the 2024 halving event". CryptoQuant analysts believe that Bitcoin's current valuation is undervalued and there is no widespread speculation by retail investors, providing data support for its potential future price growth.