Bitcoin (BTC) has been under selling pressure, dropping 6.5% weekly, and currently trades at $66,687, down 1.15%. Despite this, on-chain data shows a significant surge in buying interest, the second-largest in two months, with whale accumulation reaching an all-time high. However, miners are selling to cover operation costs post-halving.

Crypto analyst Rekt Capital views the current consolidation as beneficial, allowing BTC to align with historical halving cycles, setting the stage for a sustained bull run. Historically, early breakouts have accelerated the cycle, potentially shortening the bull market duration.

Market analyst Peter Brandt warns that if BTC breaks through $65,000, it may decline to $60,000, and potentially correct another 20% to $48,000 if it dips further. The market is in a consolidation phase, considered necessary for a healthy bull run. While "buy the dip" calls are increasing, the risk of a significant price decline remains if key support levels are breached. Patience and alignment with historical halving cycles may be key to a rewarding bull market.