The cryptocurrency market is abuzz with predictions about Bitcoin's next move. According to QCP Capital's latest report, the current price consolidation is likely to continue for two more months, with a potential bull run on the horizon in September 2024. As of now, Bitcoin is trading at $64,362, with a market capitalization of $1.268 trillion.

The report suggests that the short-term outlook for Bitcoin is capped, with large selling of call options set to expire next month. However, QCP Capital expects a significant bullish movement by the end of the year, driven by aggressive buying of call options for September to December. This indicates a summer consolidation followed by major market movements around the US elections.

Despite the current bearishness, miners are under pressure to sell due to high breakeven prices post the recent Bitcoin halving. This selling pressure is likely to continue, delaying the Bitcoin price recovery. As a result, miner Bitcoin holdings have dropped to their lowest levels in 14 years, with total reserves decreasing by over 5,000 BTC since the beginning of the year.

However, there are bullish developments on the horizon. MicroStrategy has purchased 11,931 BTC, valued at $800 million, and BitMEX CEO Arthur Hayes has shared an optimistic macroeconomic narrative, highlighting the potential for a BTC bull run triggered by the current Japanese banking crisis.

In conclusion, while Bitcoin's summer may be marked by consolidation, September could bring new life to the market. With institutional players waiting on the sidelines and bullish developments emerging, the next bull run could be just around the corner. As the market continues to evolve, one thing is certain - Bitcoin's future is full of possibilities.