Why Bitcoin Price Could Be Forming A Consolidation Structure Around $80,000
The Bitcoin price has surged towards the $80,000 mark over the past few weeks, signaling an ongoing resurgence from the bear-market lows observed in the first quarter of 2026. However, the premier cryptocurrency appears to have run out of the bullish impetus to sustain its current recovery, as it hovers around a psychological price level. Interestingly, the latest on-chain data shows that the Bitcoin price could be forming a consolidation range around the $80,000 region. Weak Coinbase Demand, Zero Binance Sell Pressure Forms ‘Equilibrium Of Apathy’: Analyst In a May 15 post on the social media platform X, market analyst CryptoOnchain revealed that a “Low-Velocity Consolidation” setup seems to be forming in the current Bitcoin price structure. This evaluation is based on a confluence of three on-chain signals over the past couple of weeks. Related Reading: Ethereum Network Registers Strongest Profit Realization In Weeks — What This Means Firstly, CryptoOnchain shared that the Network Va