Bitcoin Squeeze: Analysts Expect Decision Within Couple Months

Bitcoin is currently trading at around $63,500, and according to one analyst, it's being squeezed between two moving lines on the chart.

This type of setup doesn't stay quiet for long in history, with a decision likely to arrive within the next couple of months.

The 200-week moving average is sitting near $63,700, a level Bitcoin closed just below last week.

A separate longer-term resistance band, near $69,000, has been sliding lower for months and is converging with the rising 200-week average.

Several on-chain indicators, including the MVRV ratio, are also suggesting the possibility of one more move lower before they fully reset, a pattern that has repeated across multiple past cycles.