币界网报道：Bitcoin has been consolidating for 224 days, the longest period in its history, signaling a potential major price movement ahead. Analysts note this extended sideways trading mirrors patterns seen before previous bull runs, with the current consolidation surpassing the 197-day record before Bitcoin's 2020 surge. Market observers point to key technical indicators suggesting growing momentum, including the Relative Strength Index (RSI) hovering near oversold territory and Bollinger Bands tightening significantly. The cryptocurrency has been trading between $25,000 and $31,000 since March 2023, forming what technical analysts describe as a "compression spring" pattern that typically precedes substantial breakouts. Several factors could catalyze the next move, including potential approval of spot Bitcoin ETFs in the U.S., the upcoming Bitcoin halving in April 2024, and shifting macroeconomic conditions. Historical data shows Bitcoin tends to experience explosive rallies after prolonged consolidation periods, with average returns exceeding 300% following similar patterns in past cycles. The current accumulation phase has seen record holdings in Bitcoin addresses, suggesting strong investor confidence despite the price stagnation. Derivatives markets show growing open interest while maintaining relatively low leverage, indicating healthy market conditions for a potential breakout in either direction.