Bitcoin (BTC) watchers are leaning bearish in the short term but expect prices to pick up once the anticipated halving event is complete in 2024, with expectations of a consolidation period until then. The industry’s oldest asset saw a tepid weekend marked by price stability and low volumes, nearing the $26,000 level, losing 1.7% in the past 24 hours. Major tokens such as XRP and dogecoin (DOGE) led declines, with drops of 4% in the past 24 hours. Ether (ETH) fell 0.9%, outperforming the general market, as the CoinDesk Market Index (CMI), a broad-based tracker of hundreds of tokens, slumped 1.1%. Analysts at trading firm FxPro told CoinDesk in a note they remain bearish for the next few weeks.
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