Bitcoin Consolidates at $77,000 as Analyst Predicts Breakout to $100k by October

Bitcoin is currently consolidating between $77,000 and $78,000, according to analyst RadarXCrypto. This comes after a recent rally that saw the asset break through the $70,000 mark and reach as high as $81,000 on August 25.

The consolidation is seen as a normal part of the market cycle, with historical data suggesting that strong bull markets are often followed by corrections of 10-30%.

However, RadarXCrypto notes that Bitcoin's ability to quickly find support at the $77k-$78k range suggests that its bull momentum remains intact. The analyst believes this is a sign that the asset is laying the groundwork for a breakout towards the $98k-100k level by October and potentially even higher levels in the coming months.