More Bitcoin consolidation is expected in the coming months as the long-term activity of their holders declines

Bitcoin price may continue to consolidate for a while as network activity shows a slowdown amid reduced selling pressure.

Bitcoin didn’t stay above $70,000 for long, falling below it in early Wednesday morning trading. The resistance was very strong and it returned to the middle of its five-week channel.

According to CryptoQuant analyst ‘Darkfost’ on Wednesday, the activity of long-term holders has decreased significantly, falling to levels normally seen in bear markets.

They added that this decline in activity “reflects a reduction in selling pressure, which is likely to help Bitcoin consolidate.”

📉 LTH’s performance has declined significantly, returning to levels typically seen in bear markets.

This chart shows the total monthly BTC spent by LTHs.
⁰Be careful when interpreting the spike in November, as it corresponds to a cycle that… pic.twitter.com/kXIRnpukdy

— Darkfost (@Darkfost_Coc) March 10, 2026

Months of boring markets

Analyst ‘Daan Crypto Trades’ observed that for another week BTC price closed below the 200-week exponential moving average, which is a very long-term trend indicator. He added that it tried to bounce back with that push earlier in the week but failed and fell below $70,000.

Meanwhile, the bull market’s support group “is coming down quickly and will be relatively quick to respond to price until it moves here,” he added. This could lead to several months of consolidation and sideways markets.

“My bottom line is still that we’re going to spend some time in that larger, say ~$60K-$80K area. It could easily be a few months before we see decisive action again, I think.”

“Back and forth. Back and forth. That’s the current rhythm of Bitcoin,” MN Fund founder Mikael van de Poppe said Tuesday. “There is no break, but the longer it stays here, the stronger the movement will be,” he said.

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Meanwhile, ‘RedHotTrade’ said that Bitcoin is “squeezing between $60,000 and $70,000” and “several technical patterns are forming at once.”

“When multiple patterns point to a breakout level, the next move is often explosive.”

Analyst Matt Hughes observed that the price of BTC will decline to $71,000, so we cannot celebrate a real breakout until the weekly candles break above this level.

Crypto market outlook

Crypto markets are flat on the day, with total capitalization remaining at $2.45 trillion, close to where it has been since early February.

Bitcoin rejected $71,600 on Tuesday and fell back to $69,600 at the time of writing. Meanwhile, Ether prices remained tight just above $2,000, slowly eroding previous small gains.